A Further Examination of Appraisal Data and the Potential Bias in Real Estate Return Indexes
作者:
George W. Gau,
Ko Wang,
期刊:
Real Estate Economics
(WILEY Available online 1990)
卷期:
Volume 18,
issue 1
页码: 40-48
ISSN:1080-8620
年代: 1990
DOI:10.1111/1540-6229.00508
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
Recent articles by Giliberto [2] and Geltner [1]examine the biases inherent in the use of appraisal data in real estate performance measurement. This note takes another look at the direction and magnitude of any bias in holding period returns. Using appraisal data from a commingled real estate fund, we show that in actual application the size of the holding period return bias can be quite small and this bias may have no appreciable effect on real estate return indexes.
点击下载:
PDF
(618KB)
返 回