Eva Steiner
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ESG (Environmental, Social, Governance) is essential to Wiley's mission of unlocking human potential.For over two centuries, Wiley has a history of helping the world's researchers, learners, innovators, and leaders achieve their goals and …
View article: Climate change and commercial real estate: Evidence from Hurricane Sandy
Climate change and commercial real estate: Evidence from Hurricane Sandy Open
We study how professional investors capitalize flood risk in commercial real estate (CRE) markets after hurricane Sandy. We show that New York CRE exposed to flood risk trades at a large, persistent discount. CRE in Boston, which mostly es…
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Wiley's Corporate Citizenship initiative seeks to address the environmental, social, economic, and ethical challenges faced in our business and which are important to our diverse stakeholder groups.Since launching the initiative, we have f…
View article: Issue Information
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Wiley's Corporate Citizenship initiative seeks to address the environmental, social, economic, and ethical challenges faced in our business and which are important to our diverse stakeholder groups.Since launching the initiative, we have f…
View article: Quantitative Easing and Agency MBS Investment and Financing Choices by Mortgage REITs
Quantitative Easing and Agency MBS Investment and Financing Choices by Mortgage REITs Open
An emerging literature documents a link between central bank quantitative easing (QE) and financial institution credit risk-taking.This paper tests the complementary hypothesis that QE may also affect financial risk-taking.We study Agency …
View article: The Rate of Return on Real Estate: Long-Run Micro-Level Evidence
The Rate of Return on Real Estate: Long-Run Micro-Level Evidence Open
Real estate—housing in particular—is a less profitable investment in the long run than previously thought. We hand-collect property-level financial data for the institutional real estate portfolios of four large Oxbridge colleges over the …
View article: The rate of return on real estate: long-run micro-level evidence
The rate of return on real estate: long-run micro-level evidence Open
Real estate—housing in particular—is a less profitable investment in the long run than previously thought. We hand-collect property-level financial data for the institutional real estate portfolios of four large Oxbridge colleges over the …
View article: Quantitative Easing and Financial Risk Taking: Evidence from Agency Mortgage REITs
Quantitative Easing and Financial Risk Taking: Evidence from Agency Mortgage REITs Open
An emerging literature documents a link between central bank quantitative easing (QE) and financial institution credit risk-taking. This paper tests the complementary hypothesis that QE may also affect financial risk-taking. We study Agenc…
View article: Do Dual-Branded Hotels Outperform Single-Branded Hotels?
Do Dual-Branded Hotels Outperform Single-Branded Hotels? Open
Dual branding of hotels has become a growing industry practice. Beyond the potential marketing benefits of the dual-branding strategy, this paper tests whether dual-branded hotels operate more efficiently than comparable single-branded hot…
View article: Afforestation driving long‐term surface water browning
Afforestation driving long‐term surface water browning Open
Increase in surface water color (browning), caused by rising dissolved organic carbon (DOC) and iron concentrations, has been widely reported and studied in the last couple of decades. This phenomenon has implications to aquatic ecosystem …
View article: Financial Flexibility and Manager–Shareholder Conflict: Evidence from REITs
Financial Flexibility and Manager–Shareholder Conflict: Evidence from REITs Open
Using equity Real Estate Investment Trust data, we show empirically that the use of unsecured debt, which contains standardized covenants that place limits on total leverage and the use of secured debt, is associated with lower leverage ou…
View article: The Tension between Monetary Policy and Financial Stability: Evidence from Agency Mortgage REITs
The Tension between Monetary Policy and Financial Stability: Evidence from Agency Mortgage REITs Open
The prolonged use of unconventional monetary policies since the financial crisis has resulted in concerns about the potential for such policy accommodation to undermine financial stability. Recent research identifying a “risk-taking channe…
View article: REIT Capital Structure: The Value of Getting It Right
REIT Capital Structure: The Value of Getting It Right Open
An analysis of the capital structure of commercial real estate investment trusts finds that the strongest REITs overall tend to employ lower leverage and longer debt maturity, maintain larger proportions of fixed-rate debt, rely less on se…
View article: Decomposing the Value Effects of Sustainable Investment: International Evidence
Decomposing the Value Effects of Sustainable Investment: International Evidence Open
We provide the first systematic, international decomposition of possible financial benefits of sustainable real estate investment on corporate performance metrics across the two leading country-markets in terms of sustainable property cert…
View article: Decomposing the Value Effects of Sustainable Investment: International Evidence
Decomposing the Value Effects of Sustainable Investment: International Evidence Open
We provide the first systematic, international decomposition of possible financial benefits of sustainable real estate investment on corporate performance metrics across the two leading country-markets in terms of sustainable property cert…