Articlehybrid2009

REITs and the financial crisis: Empirical evidence from the U.S.

Tobias Basse · Meik Friedrich · Eduardo Vazquez Bea

34 citations0/0 files storedInternational Journal of Business and Management

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Financial Markets and Investment Strategies Financial Analysis and Corporate Governance Financial Risk and Volatility Modeling

Abstract

REITs are often seen to be very similar to utility stocks. However, the current financial crises – which has its roots in the U.S. housing market – has raised some doubts regarding this classification. We re-examine the relationship between REITs and utility stocks analyzing data from the United States and document the existence of a massive structural break in February 2007. Our results indicate that investing in U.S. REITs recently has become more risky relative to investments in utility stocks. This change coincides with the current economic and financial crisis.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 34 citations exist upstream.

References

1991Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models 1993Tests for Parameter Instability and Structural Change With Unknown Change Point 2000Further Evidence on the Integration of REIT, Bond, and Stock Returns 1990Equity Real Estate Investment Trusts and Real Estate Returns 2001The Time-Varying Nature of the Link between REIT, Real Estate and Financial Asset Returns 1993Return Properties of Equity REITs, Common Stocks, and Commercial Real Estate: A Comparison 1995The Historical Performance of Real Estate Investment Trusts 1995Real Estate Investment Trusts: A Review of the Financial Economics Literature

Cited by

2021Multi-period portfolio selection under the coherent fuzzy environment with dynamic risk-tolerance and expected-return levels 2013The stock market impact of government interventions on financial services industry groups: Evidence from the 2007–2009 crisis

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.