This paper aims to examine the connection between appraisals of investment properties and earnings properties in companies from two perspectives: what kinds of companies employ the most reputable appraisers and how appraisers produce estimations.
The research uses annual reports of European Union (EU) publicly traded real estate companies and examines the period 2007-2016.
The contribution of this study lies in establishing that some indicators and features of real estate companies affect the choice of appraiser and also in illustrating differences in the results of property valuations. In short, smaller companies with weaker performance are less willing to use external valuation, and external appraisers produce more conservative estimations for investment properties.
The research produces beneficial information for investors and other stakeholders interested in the real estate industry.
This is the first novel study to examine the link between appraisals of investment properties and earnings properties in companies in detail.
Mäki, J. (2020), "The role of investment property appraisal in European real estate companies", Journal of European Real Estate Research , Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JERER-11-2019-0038Download as .RIS
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