Eva Steiner

Penn State Smeal College of Business

University Park, PA 16802

United States

SCHOLARLY PAPERS

26

DOWNLOADS

5,065

SSRN CITATIONS

22

CROSSREF CITATIONS

21

Scholarly Papers (26)

1.

The Rate of Return on Real Estate: Long-Run Micro-Level Evidence

HEC Paris Research Paper No. FIN-2019-1342
Number of pages: 59 Posted: 25 Jun 2019 Last Revised: 06 Jan 2021
University of Cambridge - Judge Business School, HEC Paris - Finance Department and Penn State Smeal College of Business
Downloads 1,543 (15,223)
Citation 8

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real estate, income growth, income yields, property prices, long-run returns

2.

On the Capital Structure of Real Estate Firms

23rd Australasian Finance and Banking Conference 2010 Paper
Number of pages: 32 Posted: 23 Aug 2010 Last Revised: 05 Apr 2011
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School
Downloads 1,013 (28,445)
Citation 1

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Capital Structure, Leverage, Maturity, Real Estate Firms

3.

Climate Change and Commercial Real Estate: Evidence from Hurricane Sandy

Number of pages: 47 Posted: 23 Jul 2018 Last Revised: 17 Mar 2021
Cornell SC Johnson College of Business, University of Maastricht - Limburg Institute of Financial Economics (LIFE), Penn State Smeal College of Business and John Molson School of Business, Concordia University
Downloads 366 (104,793)
Citation 3

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Climate change, flood risk, asset prices, investor sophistication, real estate

4.

The Value of Specialization in Private Equity: Evidence from the Hotel Industry

HEC Paris Research Paper No. FIN-2020-1410
Number of pages: 60 Posted: 16 Dec 2020 Last Revised: 11 Nov 2021
Christophe Spaenjers and Eva Steiner
HEC Paris - Finance Department and Penn State Smeal College of Business
Downloads 361 (106,434)
Citation 2

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private equity, investment performance, firm ownership, real estate

5.

Decomposing the Value Effects of Sustainable Investment: International Evidence

Number of pages: 33 Posted: 22 Feb 2017
Avis Devine, Eva Steiner and Erkan Yönder
York University - Schulich School of Business, Penn State Smeal College of Business and John Molson School of Business, Concordia University
Downloads 298 (131,210)

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Real Estate Investment Trusts, Sustainability, Energy Efficiency

Financial Flexibility and Manager-Shareholder Conflict: Evidence from REITs

Forthcoming, Real Estate Economics
Number of pages: 57 Posted: 06 May 2016 Last Revised: 25 Oct 2017
Timothy J. Riddiough and Eva Steiner
University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics and Penn State Smeal College of Business
Downloads 213 (182,673)
Citation 3

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Real estate investment trusts, capital structure, financial flexibility

Financial Flexibility and Manager–Shareholder Conflict: Evidence from Reits

Real Estate Economics, Vol. 48, Issue 1, pp. 200-239, 2020
Number of pages: 40 Posted: 04 Jun 2020
Timothy J. Riddiough and Eva Steiner
University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics and Penn State Smeal College of Business
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Citation 1
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7.

Future Earnings Growth Volatility and the Value Premium

24th Australasian Finance and Banking Conference 2011 Paper, Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 31 Posted: 22 Aug 2011 Last Revised: 16 Jan 2012
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School
Downloads 205 (189,530)
Citation 1

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Asset pricing, Fama-French factor model, market efficiency

The Consequences of REIT Index Membership for Return Patterns

Number of pages: 40 Posted: 20 Sep 2016 Last Revised: 04 Oct 2016
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 188 (204,954)

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Real Estate, Investment, Index Membership, REITs

The Consequences of REIT Index Membership for Return Patterns

Real Estate Economics, Vol. 46, Issue 1, pp. 210-250, 2018
Number of pages: 41 Posted: 21 Feb 2018
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
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9.

Leverage, Volatile Future Earnings Growth and Expected Stock Returns

Number of pages: 47 Posted: 08 Aug 2014 Last Revised: 15 Aug 2014
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School
Downloads 151 (247,071)

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corporate leverage, default risk, earnings risk, earnings growth, value vs growth, stochastic earnings valuation model.

Unexpected Inflation, Capital Structure and Real Risk-Adjusted Firm Performance

Number of pages: 35 Posted: 25 Aug 2014
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 126 (285,744)

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REITs, leverage, inflation hedging, real risk-adjusted performance

Unexpected Inflation, Capital Structure, and Real Risk‐Adjusted Firm Performance

Abacus, Vol. 53, Issue 2, pp. 273-298, 2017
Number of pages: 26 Posted: 03 Jun 2017
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
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Citation 1
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Capital structure, Inflation hedging, Nominal assets, Real risk‐adjusted performance, REITs

11.

Financial Flexibility and Manager-Shareholder Conflict

Number of pages: 63 Posted: 28 May 2017
Timothy J. Riddiough and Eva Steiner
University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics and Penn State Smeal College of Business
Downloads 125 (286,224)
Citation 1

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Capital structure, financial flexibility, collateral channel

12.
Downloads 104 (325,733)
Citation 1

Fundamental Drivers of Dependence in REIT Returns

Number of pages: 46 Posted: 04 Oct 2015
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 104 (327,872)
Citation 1

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Portfolio Diversification, REITs, Real estate as an asset class

Fundamental Drivers of Dependence in REIT Returns

Journal of Real Estate Finance and Economics, Vol. 57, No. 1, 2018
Posted: 24 Aug 2018
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business

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Portfolio Diversification; REITs, Real Estate as an Asset Class

Unconventional Monetary Policy and Risk-Taking: Evidence from Agency Mortgage REITs

Number of pages: 42 Posted: 22 Jun 2018
W. Scott Frame and Eva Steiner
Federal Reserve Bank of Dallas and Penn State Smeal College of Business
Downloads 67 (428,624)
Citation 1

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Quantitative Easing, Risk-Taking, REITs, GSEs, Mortgages, Securitization

Unconventional Monetary Policy and Risk-Taking: Evidence from Agency Mortgage Reits

Number of pages: 42 Posted: 23 Aug 2018 Last Revised: 29 Apr 2020
W. Scott Frame and Eva Steiner
Federal Reserve Bank of Dallas and Penn State Smeal College of Business
Downloads 33 (581,107)

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quantitative easing, risk-taking, REITs, GSEs, mortgages, securitization

14.

Location Density, Systematic Risk, and Cap Rates: Evidence from REITs

Number of pages: 38 Posted: 11 Jun 2021 Last Revised: 13 Jun 2021
Quent Capital, Penn State Smeal College of Business, University of Texas at Austin - Department of Finance and People's United Advisors
Downloads 65 (436,902)

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Portfolio risk, real estate equity investment, property market fundamentals

15.

Economic Fundamentals, Capital Expenditures and Asset Dispositions

Number of pages: 31 Posted: 21 Sep 2017 Last Revised: 07 Feb 2019
Brent W. Ambrose and Eva Steiner
Pennsylvania State University and Penn State Smeal College of Business
Downloads 61 (443,843)

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Disposition effect, real assets, real options

16.

What Really Happens During Flight to Safety: Evidence from Real Estate Markets

Number of pages: 36 Posted: 25 May 2018
Cornell University, University of Florida and Penn State Smeal College of Business
Downloads 57 (458,662)

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Flight to Safety, Macro Finance, Capital Markets, Real Estate, Asset Pricing

17.

REIT Capital Structure Choices: When Does Preparation Matter?

Number of pages: 47 Posted: 21 Apr 2021
Cal State Fullerton, Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 39 (535,884)

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Real estate investment, leverage, financial crisis

18.

Quantitative Easing and Financial Risk Taking: Evidence from Agency Mortgage Reits

Number of pages: 41 Posted: 08 Jul 2020
W. Scott Frame and Eva Steiner
Federal Reserve Bank of Dallas and Penn State Smeal College of Business
Downloads 38 (540,901)

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19.

Did PPP Loans Distort Business Competition? Evidence from the Hotel Industry

Number of pages: 52 Posted: 18 Nov 2021
Eva Steiner and Alexei Tchistyi
Penn State Smeal College of Business and Cornell SC Johnson College of Business
Downloads 12 (734,158)

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monopolistic competition, subsidies, Covid-19, PPP loans, hotel industry

20.

Do Real Estate Values Boost Corporate Borrowing? Evidence from Contract-Level Data

Posted: 28 Dec 2020
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Florida, University of Pittsburgh - Katz Graduate School of Business and Penn State Smeal College of Business

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Collateral, capital structure, corporate real estate, investment, asset risk

21.

The Interrelationships between REIT Capital Structure and Investment

Abacus, Vol. 53, Issue 3, pp. 371-394, 2017
Number of pages: 24 Posted: 20 Sep 2017
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 0 (819,510)
Citation 2
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Agency conflict, Capital structure, Investment, Leverage, Maturity, REITs

22.
Downloads 0 (819,510)
Citation 2

REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Vol. 46, Issue 1, pp. 160-209, 2018
Number of pages: 50 Posted: 21 Feb 2018
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
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Citation 2
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REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Forthcoming
Posted: 06 Feb 2016 Last Revised: 26 Aug 2016
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate

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Real estate investment; leverage; financial crisis

Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

Real Estate Economics, Vol. 43, Issue 1, pp. 241-270, 2015
Number of pages: 30 Posted: 17 Feb 2015
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
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Citation 3
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Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

Real Estate Economics, Forthcoming
Posted: 06 Dec 2013
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate

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Real estate investment firms, International asset pricing, Macroeconomic risk factors, Credit markets

24.

Joint Leverage and Maturity Choices in Real Estate Firms: The Role of the REIT Status

Journal of Real Estate Finance and Economics, 2014, 48(1), 57-78
Posted: 03 Dec 2013 Last Revised: 10 Oct 2014
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School

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Leverage; Debt maturity; Capital structure

25.

Manipulation in U.S. REIT Investment Performance Evaluation: Empirical Evidence

Journal of Real Estate Finance and Economics, Vol. 47, No. 3, 2013
Posted: 04 Sep 2013
Jamie Alcock, John L. Glascock and Eva Steiner
University of Oxford, University of Connecticut - School of Business - Center for Real Estate and Urban Economic Studies and Penn State Smeal College of Business

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real estate, performance valuation, manipulation

26.

The Role of Financial Leverage in the Performance of Private Equity Real Estate Funds

Journal of Portfolio Management, 2013, 39(5), 99-110
Posted: 08 Feb 2013 Last Revised: 20 Feb 2014
University of Oxford, University of Oxford, Said Business School, Property Funds Research and Penn State Smeal College of Business

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Private equity real estate funds, performance analysis, financial leverage