Czasopismo
Tytuł artykułu
Autorzy
Warianty tytułu
The Assessment of the Impact of the Financial Crisis to the REITs Market in the USA
Języki publikacji
Abstrakty
REIT jest rodzajem zamkniętego funduszu stworzonego po to, aby inwestować w nieruchomości, papiery wartościowe zabezpieczone hipoteką lub w te dwa rodzaje aktywów jednocześnie. REITs można uznać za efektywną strukturę podatkową służącą finansowaniu i zarządzaniu nieruchomościami.(fragment tekstu)
Financial crisis on global markets, initiated in the USA, is regarded as one of the most characteristic phenomena in the contemporary global economy. Effects of the crisis visible in activity of Real Estate Investment Trust (REIT) evaluations of the changeability of the REITs market constitute a point of departure in comparing to the share market real estate market. In the study the author is making the assessment of the impact of the financial crisis to the REITs market in the USA, as the instrument combining features of both the capital market and the real estate market. Values of basic share indices of the American capital market, the real estate market and indices market of REITs funds in years 2007- 2012 were compared. Analysis results will show that REITs in conditions of an economic crisis can be destabilizing instrument and being characterized by a highest risk. Determining investment attraction of the REITs funds constitutes the summary of results achieved in the recessionary period.(original abstract)
Rocznik
Strony
69--81
Opis fizyczny
Twórcy
autor
- Uniwersytet Ekonomiczny w Poznaniu
Bibliografia
- Anderson R., Rottke N., Zhu B., Zietz J.: REITs in Volatile Times: Stabilizing or Not?, Working Paper 1108, Dr. P. Philips School of Real Estate, College of Bussines Administration, Orlando, Florida 2011.
- Anderson, R.V. Boney, Guirguis H.: Monetary Shocks, Volatility Regimes, and Inflation: An Empirical Analysis of REIT Behavior. "Forthcoming, Journal of Real Estate Research" 2010.
- Brown G.: Property Investment and the Capital Markets. Spoon, New Zeland 2009.
- Bullard J.: Three funerals and wedding. "Federal Reserve Bank of St. Luis Review" 1991.
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- Elliot R.J. Jr.: The rewards and risks in Real Estate Investment Trusts. "Barrons National and Business Financial Weekly" 1965, No. 30.
- Gordon M.: The complete guide to Real Estate Investment Trusts. Atlantic Publishing Group, Inc. Ocala, Florida 2008.
- Imperiale R.: Getting started in Real Estate Investment Trust. John Wiley & Sons, Inc., New Jersey, USA 2006.
- Jajuga K.: Indeksy rynku nieruchomości. W: Współczesna bankowość hipoteczna. Red. A. Szelągowska. Wydawnictwo CeDeWu, Warszawa 2010.
- Jian Z., Anderson R.: An Empirical Investigation of Herding Behavior in the U.S. REIT Market. "Journal of Real Estate Finance and Economics" 2011.
- Mazurczak A.: Znaczenie funduszy nieruchomości typu Real Estate Investment Trust (REITs) w rozwoju rynku nieruchomości w Polsce. Praca doktorska. Uniwersytet Ekonomiczny w Poznaniu, Poznań 2011.
- Menna G.: The UPREIT structure after two years: Where do we go from here? Washington D.C., Nareit, USA 1998
- Schulkin P.A.: Real estate investment trusts. "Financial Analysts Journal" 1971, No. 27.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171261995