What Drives Institutions to Invest in REITs
The purpose of this paper is to investigate the macroeconomic and microeconomic factors that drive institutions to invest in real estate investment trusts (REITs). Institutional investors are known for sophisticated investment strategies, monitoring management and identifying investment opportunities. Numerous studies investigate the cross-sectional variation of institutional investment by REIT characteristics to provide a guide on how to tailor an attractive REIT structure.
KeywordsCovariance Income Autocorrelation Volatility Stake
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