IDEAS home Printed from https://ideas.repec.org/a/taf/repmxx/v18y2012i3p273-287.html

Some searches may not work properly. We apologize for the inconvenience.

   My bibliography  Save this article

Real Estate and Alternative Asset Allocations of U.S. Firms' Defined Benefit Pension Plans

Author

Listed:
  • Karen Eilers Lahey
  • Aigbe Akhigbe
  • Melinda Newman
  • T. Leigh Anenson

Abstract

This study examines the role of real estate and alternative assets in the investment portfolio of defined benefit (DB) pension plans offered by U.S. firms for the period 2002 to 2010. These plans provide a unique reflection of the confluence of regulatory, accounting, and economic changes that have recently taken place. Results indicate less than a quarter of our sample plans invest in real estate while half invest in alternative assets. Plans that include the assets in their investment strategy tend to have larger market values, lower accumulated pension benefit obligations on a proportional basis, and higher returns.

Suggested Citation

  • Karen Eilers Lahey & Aigbe Akhigbe & Melinda Newman & T. Leigh Anenson, 2012. "Real Estate and Alternative Asset Allocations of U.S. Firms' Defined Benefit Pension Plans," Journal of Real Estate Portfolio Management, Taylor & Francis Journals, vol. 18(3), pages 273-287, January.
    • Handle: RePEc:taf:repmxx:v:18:y:2012:i:3:p:273-287
    DOI: 10.1080/10835547.2012.12089932
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10835547.2012.12089932
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10835547.2012.12089932?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:repmxx:v:18:y:2012:i:3:p:273-287. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/repm20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.