They encourage (a) academics to include a behavioral component into studies of the REIT market, (b) REIT managers to incorporate effective monitoring and control mechanisms, (c) investors to become more aware of agency conflicts in REITs and (d) policy makers to facilitate a legal framework conducive to a sustainable REIT market.
Dr. Nicolai C. Striewe MRICS wrote his dissertation at the Real Estate Management Institute (REMI) of the EBS European Business School. He now is responsible for investor relations, research and risk management at an Investment Holding in Munic, Germany.
Introduction.- Corporate Governance and REITs.- Corporate Governance and the Leverage of REITs: The Impact of the Advisor Structure.- The Impact of Institutional Ownership on the Performance of REITs and REOCs: The Corporate Governance Effect.- What Drives Institutions to Invest in REITs.- Summary, Practical Implications, and Outlook.