Abrahams, D.J.A. (2013) Property transactions and the valuation effects of public REITs. Master thesis.
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Abstract
REITs gain significant abnormal stock movement on the announcement day of a property transactions. It appears stock price adjustment to new information takes place in two days prior and one day after the announcement, not on the announcement day itself. This indicates the applied five-day event window is most accurate to capture the sole flux caused by the new information dispensed. Different as hypothesized, it can be concluded that on average, European REITs gain 1,04% cumulative abnormal returns surrounding the announcement date of property transactions. As expected, we found no evidence there is a significant difference between abnormal returns of dispositions and acquisitions.
| Item Type: | Thesis (Master) |
|---|---|
| Degree programme: | Real Estate Studies |
| Supervisor: | Brouwer, H.J. |
| Date Deposited: | 23 Apr 2020 05:32 |
| Last Modified: | 23 Apr 2020 05:32 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/1850 |
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