STRATEGIC MANAGEMENT OF PROPERTIES

  • Francesco Carlier Prof., Ministero dell’istruzione, Genova, Italy
Keywords: Real estate market, capital allocation strategies, derivatives

Abstract

This paper is dedicated to the study of strategic management techniques for improving the return on in-vestment of a real estate company with techniques of increasing the financial leverage and reduction of sys-temic risk and specific risk of this kinds of companies. Some strategies are proposed with different capital allocation hypothesis and related result are provided.

References

Francesco Carlier, 2021. "A Simple Options Trading Strategy based on Technical Indicators," International Journal of Economics and Financial Issues, Econjournals, vol. 11(2), pages 88-91.

Doran, James and Fodor, Andy, Is There Money to Be Made Investing in Options? A Historical Perspective (December 8, 2006).

Allen, M.T., J. Madura and T.M. Springer, 2000. Reit characteristisc and the sensitivity of reit returns. Journal of Real Estate Finance and Economics, 21(2): 141-152

Bers, M., and T. M. Springer. (1997). "Economies of Scale for Real Estate Investment Trusts," Journal of Real Estate Research 14(3), 275–290.

Gyourko, J., and E. Nelling. (1996). "Systematic Risk and Diversification in the Equity REIT Market," Real Estate Economics 24(4), 493–516

John B. Corgel, Chris Djoganopoulos, Equity REIT Beta Estimation, Financial Analysts Journal, 10.2469/faj.v56.n1.2332, 56, 1, (70-79), (2019)

David C. Ling, Andy Naranjo, Benjamin Scheick, Asset Location, Timing Ability and the Cross‐Section of Commercial Real Estate Returns, Real Estate Economics, 10.1111/1540-6229.12250, 47, 1, (263-313), (2018).

Ang, A., J. Chen, and Y. Xing(2006): “Downside Risk,”Review of Financial Studies,19(4), 1191–1239

Case, B., Y. Yang, and Y. Yildirim(2012): “Dynamic Correlations Among AssetClasses: REIT and Stock Returns,”Journal of Real Estate Finance and Economics,26 44(3), 298–318

Giacomini, E., D. C. Ling, and A. Naranjo(2015): “Leverage and Returns: A Cross-Country Analysis of Public Real Estate Markets,”Journal of Real Estate Finance and27Economics, 51(2), 125–159

Alcock, J., Steiner, E., and Tan, K.J.K., 2014. Joint leverage and maturity choices inreal estate firms: The role of the REIT status.Journal of Real Estate Finance andEconomics, 48(1), pp.57-78.

Fisher, Jeffrey, and William Goetzmann, 2005, The performance of real estate portfolios: A simulation approach, Journal of Portfolio Management32-45

Views:

340

Downloads:

284

Published
2021-05-21
Citations
How to Cite
Francesco Carlier. (2021). STRATEGIC MANAGEMENT OF PROPERTIES. International Journal of Innovative Technologies in Economy, (2(34). https://doi.org/10.31435/rsglobal_ijite/30062021/7549