2026-09-21T10:51:07Zhttps://dspace.mit.edu/server/oai/requestoai:dspace.mit.edu:1721.1/331832022-01-13T07:54:44Zcom_1721.1_7582com_1721.1_7581col_1721.1_131023
David Geltner.
LaFever, Robert A. (Robert Anthony)
Canizo, Luis
Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.
Massachusetts Institute of Technology. Department of Urban Studies and Planning
2006-06-20T12:54:24Z
2006-06-20T12:54:24Z
2005
2005
http://hdl.handle.net/1721.1/33183
65470313
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2005.
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (leaves 46-47).
In this thesis, real estate opportunity fund returns were analyzed for evidence of persistence in subsequent funds from the same manager; it is designed to update and enhance a prior thesis performed by Cathy C. Hahn (2003), using both parametric and non-parametric tests. Tests were performed on gross and net returns covering the period from 1991-2004. These tests confirm the prior finding that past fund performance is a significant indicator of future fund performance within the same firm. Our study also found the strongest evidence of persistence to exist in the extreme performers ranking in the top and bottom quartile amongst their vintage year peers. Additional tests for persistence, as well as effects of fund characteristics on performance, were employed using a methodology similar to that performed on private equity funds by Kaplan and Schoar (2003). Our tests yielded similar results to those found by Kaplan and Schoar(2003), but were not substantiated with statistical significance.
by Robert A. LaFever and Luis Canizo.
S.M.
47 leaves
219967 bytes
219772 bytes
application/pdf
application/pdf
eng
Massachusetts Institute of Technology
M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
http://dspace.mit.edu/handle/1721.1/7582
Urban Studies and Planning.
Revisiting performance persistence in real estate funds
Thesis
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