ECONOMIES OF SCALE AND COST EFFICIENCIES: A PANEL-DATA STOCHASTIC-FRONTIER ANALYSIS OF REAL ESTATE INVESTMENT TRUSTS

This paper extends the existing research on real estate investment trust (REIT) operating efficiencies. We estimate a stochastic‐frontier, panel‐data model specifying a translog cost function, covering 1995–2003. The results disagree with previous research in that we find little evidence of scale ec...

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Veröffentlicht in:	The Manchester school 2006-07, Vol.74 (4), p.483-499
Hauptverfasser:	MILLER, STEPHEN M., CLAURETIE, TERRENCE M., SPRINGER, THOMAS M.
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic analysis Economic efficiency Economic theory Economies of scale Efficiency Finance Investment Macroeconomics Real estate REITs Stochastic models Studies
Online-Zugang:	Volltext
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