THE TAX-INDUCED HOLDING PERIODS OF REAL-ESTATE INVESTORS - THEORY AND EMPIRICAL-EVIDENCE

被引：13

作者：

GAU, GW ^{[1
]}

WANG, K ^{[1
]}

机构：

[1] CALIF STATE UNIV FULLERTON,DEPT FINANCE,FULLERTON,CA 92634

来源：

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1994年 / 8卷 / 01期

关键词：

REAL ESTATE INVESTMENT; HOLDING PERIOD;

D O I：

10.1007/BF01098917

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article reexamines holding period decisions in real estate investment. It develops and empirically tests a holding period model recognizing not only taxes but also refinancing and investor-specific determinants. Based on a sample of over 1,000 real estate transactions with observed holding periods, the results of our tests support the conclusion that investors' consumption and investment preferences and prevailing market interest rates are more important than tax issues in determining the holding periods of real estate investors.

引用

页码：71 / 85

页数：15

共 11 条

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[4]

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[5]

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