Article PDF
Avoid common mistakes on your manuscript.
Literaturverzeichnis
BECK, M. (2000): “Benchmark für die Performance-Messung einer Aktie”, in: Europäische Immobilien-Aktien, Bankhaus Ellwanger & Geiger (Hrsg.), Stuttgart, S. 190–206.
CHANDRASHEKARAN, V. (1999): “Time-Series Properties and Diversification Benefits of REIT Returns”, Journal of Real Estate Research, No. 1/2, pp. 91–112.
CHENG, P. and Y. LIANG (2000): “Optimal diversification: Is it really worthwhile?”, Journal of Real Estate Portfolio Management, 6, pp. 7–16.
EICHHOLTZ, P. M. A. (1996): “Does International Diversification Work Better for Real Estate than for Stocks and Bonds?”, Financial Analysts Journal, January–February, pp. 56–62.
ENNIS, R. M. and P. BURIK (1991): “Pension Fund Real Estate Investment Under a Simple Equilibrium Pricing Model”, Financial Analysts Journal, May–June, pp. 20–30.
FIRSTENBERG, P. M., S. A. ROSS and R. C. ZISLER (1988): “The whole story”, Real estate, pp. 22–34.
FISHBURN, P. C. (1977): “Mean-Risk Analysis with Risk Associated with Below-Target Returns”, The American Economic Review, 67(2), pp. 116–126.
FOGLER, H. R. (1984): “20% in Real Estate: Can Theory Justify It?”, Journal of Portfolio Management, Winter, pp. 6–13.
GELTNER, D. (1989): “Bias in Appraisal-Based Returns”, Journal of the American Real Estate and Urban Economics Association, 17, pp. 338–352.
GELTNER, D. (1991): “Smoothing in Appraisal-Based Returns”, Journal of Real Estate Finance and Economics, 4:3, pp. 327–45.
GIBBONS, M. R., S. A. Ross and J. SHANKEN (1989): “A Test of the Efficiency of a Given Portoflio”, Econometrica, 57, pp. 1121–1152.
GILIBERTO, S. M. (1993): “Measuring Real Estate Returns: The Hedged REIT Index”, Journal of Portfolio Management, 19(3), pp. 94–99.
GORDON, J. N., T. A. CANTER and J. A. WEBB (1998): “The Effect of International Real Estate Securties on Portfolio Diversification”, Journal of Real Estate Portfolio Management, pp. 83–91.
GRAFF, R. A., A. HARRINGTON and M. S. YOUNG (1997): “The Shape of Australian Real Estate Return Distributions and Comparisons to the United States”, Journal of Real Estate Research, 3, pp. 291–308.
GYOURKO, J. and D. B. KEIM (1993): “Risk and Return in Real Estate: Evidence from a Real Estate Stock Index”, Financial Analysts Journa, September–October, pp. 39–46.
HARTZELL, D., J. S. HEKMAN and M. MILES (1987): “Real Estate Returns and Inflation”, Journal of the American Real Estate and Urban Economics Association, 15, pp. 617–637.
HOUWELING, P., J. HOEK and F. KLEIBERGEN (2001): “The Joint Estimation of Term Structures and Credit Spreads”, Journal of Empirical Finance, July, 297–323.
HUANG, C. F. and R. H. LITZENBERGER (1988): The Foundations for Financial Economics, North Holland, Amsterdam.
HÜBNER, R. (2002): Terminbörsliche Immobilienderivate für Deutschland, Sternenfels.
HÜBNER, R., M. S. SCHWAIGER und G. WINKLER (2003): “Das Diversifikationspotential österreichischer Immobilienwertpapiere”, Österreichisches Bankarchiv (ÖBA), 08.
IBBOTSON, R. G., L. B. SIEGEL and K. S. LOVE (1985): “World Welath: Market Values and Returns”, Journal of Portfolio Management, Fall, pp. 4–23.
IBBOTSON, R. G. and L. B. SIEGEL (1984): “Real Estate Returns: A Comparison with Other Investment”, Journal of the American Real Estate and Urban Economics Association, 12, pp. 219–242.
JOBSON, J. D. and B. KORKIE (1982): “Potential Performance and Tests of Portfolio Efficiency”, Journal of Financial Economics, 10, pp. 433–466.
KALLBERG, J. G., C. H. LIU and D. W. GREIG (1996): “The Role of Real Estate in the Portfolio Allocation Process”, Real Estate Economics, S. 359–377.
LIU, C. and J. MEI (1992): “The Predictability of Return on Equity REITs and Their Co-movement with Other Assets”, Journal of Real Estate Finance and Economics, 5, pp. 401–418.
MAURER, R. und S. SEBASTIAN (1998): “Immobilienaktiengesellschaften als finanzwirtschaftliche Substitute für Immobiliendirektanlagen”, Mannheimer Manuskripte zu Risikotheorie, Portfoliomanagement und Versicherungswirtschaft Nr. 105.
MAURER, R. und S. SEBASTIAN (1999): “Immobilienfonds und Immobilienaktiengesellschaften als finanzwirtschaftliche Substitute für Immobiliendirektanlagen”, ZfB, 3, S. 169–194.
MAURER, R., S. SEBASTIAN und T. G. STEPHAN (2000): “Immobilienindizes im Portfolio-Management”, Working Paper No. 52, Finance & Accounting, Universität Frankfurt a.M.
MAURER, R. und T. G. STEPHAN (1996): “Konstruktion einer Immobilien-Benchmark und deren Anwendung im Investment-Management”, ZfB, 66. Jg., S. 1527–1545.
MUELLER, G. R., G. R. PAULEY and W. K. MORRILL (1994): “Should REITs be included in a Mixed-Asset-Portfolio?”, Real Estate Finance, 1, pp. 23–28.
REHKUGLER, H. (2002): “Der Beitrag der Immobilienaktie zur Risikominderung im Vermögensportfolio”, Referat zur 2. Fachkonferenz der Initiative Immobilien-Aktie am 14./15.10.02, nach: http://public.deutsche-bank.de/grundbesitz/dwag/dwag_content.nsf/doc/FDO D-4PTFDV/$file/Rehkugler.pdf, Stand:02.04.2003.
ROSS, S. A. and R. ZISLER (1991): “Risk and Return in Real Estate”, Journal of Real estate Finance and Economics, 4, pp. 175–190.
RUBENS, J. H., D. A. LOUTON and E. J. YOBACCIO (1998): “Measuring the Significance of Diversification Gains”, Journal of real estate research, 1, pp. 73–86.
SEILER, M. J., J. R. WEBB and F. C. N. MYER (1999): “Diversification Issues in Real Estate Investment”, Journal of Real Estate Literature, 7, pp. 163–179.
STÄHN, M. (2000): “Diversifikationspotential deutscher Immobilienaktien”, Diplomarbeit, Universität Leipzig.
TOBIN, J. (1958): “Liquidity Preference as Behavior toward Risk”, Review of Economic Studies, 25, pp. 65–86.
Author information
Authors and Affiliations
Rights and permissions
About this article
Cite this article
Hübner, R., Schwaiger, M.S. & Winkler, G. Indirekte Immobilienanlagen im Portfoliomanagement am Beispiel des deutschen Marktes. Fin Mkts Portfolio Mgmt 18, 181–198 (2004). https://doi.org/10.1007/s11408-004-0205-y
Issue Date:
DOI: https://doi.org/10.1007/s11408-004-0205-y