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Dr Thies Lindenthal

Thies Lindenthal

Title of research: Unique Assets, Quality Uncertainty and Noisy Prices

This projects estimates real estate asset uniqueness along previously not quantifiable dimensions, including shape, size, architecture, perceived beauty, maintenance or shape similarity. This richer picture of individual buildings and their comparability to other properties will improve any estimates of fundamental value. More interestingly, though, it will reveal distributions of transaction values in relation to fundamental value. Since uniqueness of the assets co-determines the availability of information from comparable sales, I hypothesise that uniqueness is also linked to the absolute deviations of sales prices from fundamental values: If little is know about fundamental value, then sales prices will contain more noise.

Project Update - April 2019


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CERF Fellow Dr. Bang Dang Nguyen - paper will be presented at the AFA Annual Meeting 2020 in San Diego

Sep 26, 2019

Political Connections and Firm Value: Evidence from Close Gubernatorial Elections, joint with Q.A. Do (SciencesPo Paris) and Yen-Teik Lee (Curtin University), is accepted and will be presented at the AFA Annual Meeting 2020 in San Diego.

CERF Scholar Shiqi Chen presented her paper at Leeds University Business School

Jun 28, 2019

Shiqi Chen presented her paper entitled “Financial Policies and Internal Governance with Heterogeneous Risk Preferences” (joint with Bart Lambrecht) in the Accounting and Finance seminar at Leeds University Business School, the Finance seminar at Essex Business School, CERF Lunch Seminar at Cambridge Judge Business School, and at the 2019 Annual Real Options Conference in London.

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