...Nicholas Chatzitsolis; Konstantinos J. Liapis; Elena P. Christodoulopoulou Purpose The purpose of this study is to identify how different Generally Accepted Accounting Principles (GAAP) influence property management. The study is based on two basic accounting principles for the valuation of assets...

... to comprehend the true nature of assets and liabilities. Leasing is an activity whereby the use of an asset is separated from the ownership of that asset. The Accounting Standards Board, in its Statement of Principle, defines assets as “rights or other access to future economic benefits controlled by an entity...

...Konrad Finkenzeller; Tobias Dechant; Wolfgang Schäfers Purpose The purpose of this paper is to provide conclusive evidence that infrastructure constitutes a separate asset class and cannot be classified as real estate from an investment point‐of‐view. Furthermore, optimal allocations...

...Karen Sieracki; Kim Hiang Liow; Amidu Abdul‐Rasheed; Aluko Bioye Tajudeen; Nuhu Muhammad Bashar; Saibu Muibi Olufemi Purpose Quite a substantial number of academic papers have examined the performance of both direct and indirect real estate relative to other investment assets. While these studies...

... institutional property investors in their asset allocation decision processes. The UK data set is the largest, with a total of 595 property developments over all use types. For Sweden the sample size is 146, for France 144 and for Germany 131. In total data from 1,016 property developments are evaluated...

... of asset classes over a longer sample period. We provide additional evidence suggesting that practicing analysts should include REITs as an asset class to optimize their portfolios. Specifically, our results show that the price behavior of REITs is unique and cannot be satisfactorily duplicated...

...Bert Kramer; Ton van Welie With asset liability management (ALM), all the relevant asset and liability classes are managed in an integrated fashion. We describe an ALM model for housing associations. This model uses simulation to show the development of a housing association, usually measured...

... that arbitraging the small stocks by reading the price movement of the large firms could give possible abnormal returns to the investor. © MCB UP Limited 2001 Property markets Stock markets Assets Diversification Cointegration Based on Gyourko and Nelling’s (1996) findings, there are two...

...Patrick Wilson; John Okunev Understanding cyclical activity is an important component of efficient portfolio management. Property appraisal models that do not explicitly take into account cyclical fluctuations may produce unrealistic valuation estimates resulting in property assets being...

...Sandy Bond; Peter Dent Research undertaken by the authors over the last two years has revealed a number of problems in valuing non‐market, non‐investment properties in the public sector. The first part of the article draws together some of the literature in the area of public sector asset valuation...

... there are models for the pricing and allocation of assets; these asset allocation models suggest an optimum allocation between the respective asset classes based on retrospective judgements of performance and risk. A substantial part of the UK and US real estate literature concentrates on these quantitative asset...

...Peter Young Discusses the valuation “public sector assets” comprising public parks,infrastructural assets (roads, drains, water supply, etc.), hospitals,schools, universities and the like; and takes a passing look at the modern public sector accounting practices which appear to create a need...

...Andrew Cherry Describes the third edition of the Red Book. Notes that it is now mandatory for valuers undertaking certain types of asset valuation to state whether or not they have complied with the advice in the Red Book. Concludes that the third edition contains little new material...