Publications

2008
Working Paper

Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry

By: Karl A Muller III, Edward J. Riedl and Thorsten Sellhorn

We examine the causes and consequences of European real estate firms' decisions to provide investment property fair values prior to the required disclosure of this information under International Financial Reporting Standards (IFRS). We find evidence that investor... View Details

Keywords: Fair Value Accounting; Financial Reporting; International Accounting; Corporate Disclosure; Standards; Real Estate Industry; European Union

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30 Aug 2004
Research & Ideas

Real Estate: The Most Imperfect Asset

As a driver of both the overall economy and of individual wealth, real estate is pretty hard to beat. As Harvard Business School professor Arthur Segel says, real View Details

Keywords: by Sarah Jane Johnston; Real Estate; Real Estate

2011
Other Unpublished Work

Cloistered in the Pink Ghetto: Women in Private Equity, Real Estate And Venture Capital

By: Nori Gerardo Lietz

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August 2018 (Revised December 2019)
Case

Brooklyn Lodgers: 78 South Third St., Brooklyn, NY

By: Charles F. Wu, Jackie Bereiter and Signe Conway

Nathalie Parizat and her husband, Hugo, were contemplating a new real estate investment. For two years they had been frustrated by and lamenting their situation of paying high rents to third parties while the couple had idle cash in the bank. They also were convinced... View Details

Keywords: Real Estate Development; Property; Investment; Management; New York (city, NY); Brooklyn

May 2017
Case

Cambridge Franchise Partners

By: Richard Ruback and Royce Yudkoff

Two partners commence a rollup in the quick-service restaurant segment. They focus on operating improvements and spinning-off real estate. View Details

Keywords: Real Estate; Mergers and Acquisitions; Operations; Performance Improvement; Property; Management

2020
Working Paper

Collusion in Brokered Markets

By: John William Hatfield, Scott Duke Kominers and Richard Lowery

The U.S. residential real estate agency market presents a puzzle for economic theory: commissions on real estate transactions have remained high for decades even though entry is frequent and costs are low. We model the real estate agency market, and other brokered... View Details

Keywords: Real Estate; ＂Repeated Games＂; Collusion; Antitrust; Brokered Markets; Game Theory; Real Estate Industry

SSRN

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Research Summary

Optimal Signaling Policy with Rational and Irrational Agents (with James Burns)

We examine situations in which a single informed agent signals a group of uniformed agents. The uniformed agents must then take an action based on this signal. The motivation for our work comes from real world examples such as terrorist alerts or job safety... View Details

June 2012 (Revised September 2015)
Case

The Paris Opera Hotel

By: Arthur I. Segel and Chad M. Carr

Real estate investor Javier Faus invests in a luxury hotel development in central Paris, and must select a management company. View Details

Keywords: Real Estate; International Business; Capital Investments; Investment; Property; Business or Company Management; Real Estate Industry; Paris

17 Oct 2008
Working Paper Summaries

Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry

Keywords: by Karl A. Muller III, Edward J. Riedl & Thorsten Sellhorn; Real Estate; Real Estate

January 2023 (Revised January 2024)
Teaching Note

Shanty Real Estate: Teaching Note

By: Michael Luca, Jesse M. Shapiro and Nathan Sun

Teaching note to Prof. Luca and Prof. Shapiro's Shanty Real Estate Case. View Details

18 Feb 2005
Keynote Speech

The Leader's Role in Shaping Organizational Values." Speaker. "Advanced Management Development Program in Real Estate

By: Lynn S. Paine

Keywords: Leadership; Organizations; Values and Beliefs

October 2024
Case

Southern California Industrial: Freezer Drive

By: Arthur I. Segel, W. Matt Kelly and Dwight Angelini

In the midst of the COVID-19 pandemic, a Boston based real estate private equity firm was seeking to make their very first West Coast investments in hopes of establishing their presence in the strategic region. An exciting property suddenly became available on the... View Details

Keywords: Real Estate Development; Acquisition; Health Pandemics; Risk and Uncertainty; Expansion; Cost vs Benefits; Investment Return; Real Estate Industry

July 2012 (Revised August 2015)
Case

SOHO China: Design, Development, and Social Harmony

By: Arthur I Segel and Mukti Khaire

Founded in 1995 by Zhang Xin and her husband Mr. Pan Shiyi, SOHO China has developed into a world-class real estate development firm that has consistently delivered high-quality projects known for their cutting-edge designs and investment potential. Despite the... View Details

Keywords: Real Estate; Organizational Culture; Leasing; Design; Asset Management; Salesforce Management; Sales; Real Estate Industry; China

June 2012
Teaching Note

Edward Lundberg and the Rockville Building: Energy Efficiency Finance in Commercial Real Estate (TN)

By: John D. Macomber and Annelena Lobb

May 1979 (Revised August 2013)
Background Note

Financial Analysis of Real Property Investments

By: William J. Poorvu

Develops a conceptual framework for financial analysis of real estate investments, taking into consideration the necessity for baseline data, project trends, and forecast discontinuities. View Details

Keywords: Forecasting and Prediction; Investment Return; Trends; Real Estate Industry; Real Estate Industry