Real Estate & Urban Analysis
Cambridge-Maastricht Symposium 2005
19-21 June, Madingley Hall, University of Cambridge
Organisers: Kanak Patel and Piet Eichholtz
19 June
18.00-19.00: Pre-conference reception
19.00-21.00 Pre-conference dinner
20 June
08.45 – 10.45 Session 1
Capital Structure & Corporate Takeovers
Chair: Dean Paxson
Authors: Dirk Brounen, Mathijs van Dijk and Piet Eichholtz
Title: Corporate Real Estate and Corporate Takeovers: International Evidence
Discussant: Shaun Bond
Authors: Zhilan Feng, Chinmoy Ghosh and C F Sirmans
Title: On the Capital Structure of Real Estate Investment Trusts (REITs)
Discussant: Bob Edelstein
10.45 – 11.00 Coffee/Tea Break
11.00 – 13.00 Session 2
Migration and Housing Development
Chair: David Nickerson
Authors: David F Frame
Title: Migration and the returns to investment in housing
Discussant: Dogan Tirtiroglu
Authors: Richard Buttimer and Steven P Clarky
Title: Housing Development, Slow Growth Policies and Leviathan Government
Discussant: John Glascock
13.00 – 14.00 Lunch
14.00 – 16.00 Session 3
Real Options
Chair: John Glascock
Authors: Rose Neng Lai and Ko Wang
Title: Stickiness of Property Rental Rates and Developers' Games
Discussant: Joao Duque
Author: Dean Paxson
Title: Sequential American Exchange Property Options
Discussant: David Geltner
16.00 – 16.15 Coffee/Tea Break
16.15 – 18.15 Session 4
Multiple-Projects Investment Strategies & Real Estate Performance
Chair: Joao Duque
Authors: Huang, Yingying, Sing, Tien Foo and Ong, Seow Eng
Title: Interactive Effects in Multiple-Projects Investment Strategies
Discussant: Benjamine Lin
Authors: Carolina Fugazza, Massimo Guidolin and Giovanna Nicodano
Title: Investing for the Long-Run in European Real Estate: Does Predictability Matter?
Discussant: Richard Buttimer
19.00 – 21.00 Conference Dinner
21 June
08.45 – 10.45 Session 5
Default Risk
Chair: Bob Edelstein
Author: Jun Chen and Yongheng Deng
Title: Commercial Mortgage Workout Strategy and Conditional Default Probability
Discussant: Bob Van Order
Author: Kanak Patel and Ricardo Pereira
Title: Expected Default Probabilities in Structural Models:
Empirical Evidence
Discussant: Ong, Seow Eng
10.45 – 11.00 Coffee/Tea Break
11.00 – 13.00 Session 5
Real Estate Investment
Chair: Bob Van Order
Authors: Jeff Fisher, David Geltner and Henry Pollakowski
Title: A Quarterly Transactions-Based Index of Institutional Real Estate Investment
Discussant: David Frame
Authors: Gianluca Marcato
Title: CAPM, liquidity and real estate performance
Discussant: David Nickerson
13.00 – 14.00 Lunch