Effects of real estate cycles on valuation of U.S. real estate investment trusts (REITs)
This study investigates the relation between accounting depreciation bias and equity valuation in a unique industry setting, Real Estate Investment Trusts (REITs). REITs report funds from operations (FFO), an industry standardized pro forma performance measure that is computed by excluding the depre...
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| Language: | English |
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University of British Columbia
2013
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| Online Access: | http://hdl.handle.net/2429/44672 |