IDEAS home Printed from https://ideas.repec.org/a/taf/repmxx/v4y1998i2p83-91.html
   My bibliography  Save this article

The Effect of International Real Estate Securities on Portfolio Diversification

Author

Listed:
  • Jacques Gordon
  • Todd Canter
  • James Webb

Abstract

Executive Summary. Previous research has documented the risk-reduction benefits of international real estate securities to a real estate portfolio, but has stopped short of examining the effect of these securities on a mixed-asset portfolio. To this end, this study evaluates international real estate securities within the framework of a mixed-asset portfolio consisting of U.S. stocks, U.S. corporate bonds, U.S. real estate securities, and international common stocks. Each asset class was examined from a risk-return perspective and the results indicate that international real estate securities offer significant diversification benefits for a U.S. mixed-asset portfolio for a U.S. investor. In order to examine the risk-reduction potential from international property stocks on a U.S. mixed-asset portfolio, efficient frontiers were constructed for each combination of asset classes. This study covers a thirteen-year time span from 1984 through 1997.

Suggested Citation

  • Jacques Gordon & Todd Canter & James Webb, 1998. "The Effect of International Real Estate Securities on Portfolio Diversification," Journal of Real Estate Portfolio Management, Taylor & Francis Journals, vol. 4(2), pages 83-91, January.
    • Handle: RePEc:taf:repmxx:v:4:y:1998:i:2:p:83-91
    DOI: 10.1080/10835547.1998.12089558
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10835547.1998.12089558
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10835547.1998.12089558?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:4:y:1998:i:2:p:83-91. 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.