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https://doi.org/10.21256/zhaw-26475| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Trading activity in public real estate markets |
| Authors: | Richter, Thomas |
| et. al: | No |
| DOI: | 10.3390/jrfm15090374 10.21256/zhaw-26475 |
| Published in: | Journal of Risk and Financial Management |
| Volume(Issue): | 15 |
| Issue: | 9 |
| Page(s): | 374 |
| Issue Date: | 2022 |
| Publisher / Ed. Institution: | MDPI |
| ISSN: | 1911-8074 |
| Language: | English |
| Subjects: | Trading activity; Trading motive; Public real estate; REITs |
| Subject (DDC): | 332: Financial economics |
| Abstract: | Trading activity is an important characteristic of financial markets, since it is related to price discovery, volatility, and market liquidity. It is therefore of crucial importance to understand what drives trading activity in real estate markets. Here, we use a panel dataset consisting of 142 US REIT stocks observed over almost 20 years and a fixed-effects regression approach to link variation in trading activity to proxies for different trading motives (theory-motivated). The paper shows that the drivers of trading activity in real estate markets are distinct from those in the broader equity market. Proxies for portfolio rebalancing needs and liquidity trading are shown to be important trading motives in REIT markets. However, unlike in the broader equity market, difference of opinions and information-based trading motives seem to play a minor role for REIT trading activity. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/26475 |
| Fulltext version: | Published version |
| License (according to publishing contract): | CC BY 4.0: Attribution 4.0 International |
| Departement: | School of Management and Law |
| Appears in collections: | Publikationen School of Management and Law |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 2022_Richter_Trading-Activity-in-Public-Real-Estate-Markets_jrfm.pdf | 660.25 kB | Adobe PDF |  View/Open |
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Richter, T. (2022). Trading activity in public real estate markets. Journal of Risk and Financial Management, 15(9), 374. https://doi.org/10.3390/jrfm15090374
Richter, T. (2022) ‘Trading activity in public real estate markets’, Journal of Risk and Financial Management, 15(9), p. 374. Available at: https://doi.org/10.3390/jrfm15090374.
T. Richter, “Trading activity in public real estate markets,” Journal of Risk and Financial Management, vol. 15, no. 9, p. 374, 2022, doi: 10.3390/jrfm15090374.
RICHTER, Thomas, 2022. Trading activity in public real estate markets. Journal of Risk and Financial Management. 2022. Bd. 15, Nr. 9, S. 374. DOI 10.3390/jrfm15090374
Richter, Thomas. 2022. “Trading Activity in Public Real Estate Markets.” Journal of Risk and Financial Management 15 (9): 374. https://doi.org/10.3390/jrfm15090374.
Richter, Thomas. “Trading Activity in Public Real Estate Markets.” Journal of Risk and Financial Management, vol. 15, no. 9, 2022, p. 374, https://doi.org/10.3390/jrfm15090374.
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