Stanimira Milcheva

University College London

Professor

1-19 Torrington Place

Bartlett School of Sustainable Construction

London, London WC1E 7HB

United Kingdom

http://www.stanimilcheva.com

SCHOLARLY PAPERS

29

DOWNLOADS
Rank 17,346

SSRN RANKINGS

Top 17,346

in Total Papers Downloads

5,452

SSRN CITATIONS
Rank 25,059

SSRN RANKINGS

Top 25,059

in Total Papers Citations

45

CROSSREF CITATIONS

3

Scholarly Papers (29)

1.

Performance Drivers in Private Infrastructure Funds

Number of pages: 47 Posted: 14 Feb 2019 Last Revised: 09 Feb 2021
Martin Haran, Daniel Lo and Stanimira Milcheva
Ulster University, Ulster University and University College London
Downloads 958 (45,854)
Citation 1

Abstract:

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Private infrastructure funds, performance, persistence, internal rate of return, public market equivalent.

2.

Cross-Border Capital Flows into Real Estate

Number of pages: 41 Posted: 10 Nov 2013 Last Revised: 17 Apr 2014
Franz Fuerst, Stanimira Milcheva and Andrew Baum
University of Cambridge - Department of Land Economy, University College London and University of Oxford, Said Business School
Downloads 742 (65,041)

Abstract:

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Real Estate Investment, Cross-border flows, Panel data analysis

3.

Proximity to COVID-19 Cases and Real Estate Stock Returns

Number of pages: 37 Posted: 02 Jul 2020 Last Revised: 23 Mar 2022
Lingshan Xie and Stanimira Milcheva
University College London and University College London
Downloads 514 (103,126)
Citation 3

Abstract:

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COVID-19 case proximity, listed real estate company returns, difference-in-difference spatial discontinuity, spatial effects.

4.

Volatility and the Cross-Section of Real Estate Equity Returns during COVID-19

Number of pages: 36 Posted: 13 May 2020 Last Revised: 16 Apr 2021
Stanimira Milcheva
University College London
Downloads 514 (103,126)
Citation 24

Abstract:

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Low-risk effect, coronavirus, COVID-19 risk factor, pandemic, financial constraints, behavioral effects, factor model, cross-section of returns, commercial real estate, REITs, systemic risk, idiosyncratic volatility

5.

How `Bad' is Renter Protection for Institutional Investment in Multifamily Housing?

Number of pages: 45 Posted: 27 Nov 2018 Last Revised: 16 Dec 2022
Meagan McCollum and Stanimira Milcheva
University of Tulsa - Collins College of Business and University College London
Downloads 221 (256,461)

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Multifamily housing, rental market, cap rates, volatility, NOI, renter protection.

6.

Work from Home and Commercial Real Estate: Evidence from Stock Markets

Number of pages: 33 Posted: 15 Feb 2022 Last Revised: 03 Oct 2022
Stanimira Milcheva and Lingshan Xie
University College London and University College London
Downloads 214 (264,331)

Abstract:

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COVID-19, work from home, real estate investment trusts, stock return, tenant

7.

Is Financial Regulation Good or Bad for Real Estate Companies? – An Event Study

Swiss Finance Institute Research Paper No. 16-20
Number of pages: 45 Posted: 09 Mar 2016 Last Revised: 30 Aug 2017
Martin Hoesli, Stanimira Milcheva and Alex Moss
University of Geneva - Geneva School of Economics and Management (GSEM), University College London and University of Reading - Henley Business School
Downloads 214 (264,331)
Citation 1

Abstract:

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Financial market regulation, Basel III, AIFMD, EMIR, event study, listed property companies, CAPM

8.

Spatial Dependence in Asset Pricing

Number of pages: 31 Posted: 30 Sep 2016 Last Revised: 13 May 2020
Stanimira Milcheva and Bing Zhu
University College London and University of Reading - Henley Business School
Downloads 208 (271,323)

Abstract:

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Asset pricing, spatial dependence, spatial spillover risk.

9.

ESG Investors and Local Greenness: Evidence from Infrastructure Deals

Number of pages: 44 Posted: 15 Nov 2022 Last Revised: 01 Mar 2023
Lingshan Xie and Stanimira Milcheva
University College London and University College London
Downloads 180 (309,050)

Abstract:

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ESG investors, infrastructure private equity funds, local greenness.

10.

Preferences of Institutional Investors in Commercial Real Estate

Number of pages: 57 Posted: 31 Dec 2019 Last Revised: 09 Feb 2021
Dragana Cvijanovic, Stanimira Milcheva and Alex Van de Minne
Cornell SC Johnson College of Business, University College London and University of Connecticut - School of Business
Downloads 172 (321,631)
Citation 6

Abstract:

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hazard model, frailty, segmentation

11.

Term structure of discount rate: evidence from UK repeat-sales housing

Number of pages: 37 Posted: 14 Dec 2021 Last Revised: 01 Dec 2022
Hang Lai and Stanimira Milcheva
University College London and University College London
Downloads 132 (401,905)

Abstract:

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Declining Discount Rates, Hedonic Model, Repeat Sales Model, Housing, Asset Pricing.

12.

Does Investor Size Matter? Evidence from Commercial Real Estate Transactions

Number of pages: 45 Posted: 24 Oct 2019 Last Revised: 09 Feb 2021
Dragana Cvijanovic, Stanimira Milcheva and Alex Van de Minne
Cornell SC Johnson College of Business, University College London and University of Connecticut - School of Business
Downloads 124 (418,909)

Abstract:

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Investor size; Bayesian estimation, price and holding period, market segmentation, bargaining intensity.

13.

To Rent or To Own? The Effect of Additional Transaction Tax on Buy-to-Let Housing Market

Number of pages: 20 Posted: 25 Apr 2023
Hang Lai and Stanimira Milcheva
University College London and University College London
Downloads 122 (424,022)

Abstract:

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Rental housing, Build-to-Rent, Buy-to-Let, Transaction tax, Housing policy.

14.

Impact of Institutional Investors on Real Estate Risk

Number of pages: 32 Posted: 18 Oct 2021
Dragana Cvijanovic, Stanimira Milcheva and Alex Van de Minne
Cornell SC Johnson College of Business, University College London and University of Connecticut - School of Business
Downloads 119 (432,035)
Citation 1

Abstract:

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Stochastic Volatility, Institutional Ownership, Investor Size, Real Estate Asset Volatility, Bayesian Estimation, Repeat Sales Model

15.

Spatio-Temporal Effects of an Urban Development Announcement and Its Cancellation on House Prices – A Quasi-Natural Experiment

Number of pages: 34 Posted: 11 Sep 2017
Dongwoo Hyun and Stanimira Milcheva
University of Reading - Henley Business School and University College London
Downloads 118 (434,818)
Citation 1

Abstract:

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Announcement effect, spatial spillover, spatio-temporal autoregressive model, difference-in-differences, apartment transaction prices.

16.

Asset Pricing, Spatial Linkages and Contagion in Real Estate Stocks

Number of pages: 42 Posted: 30 Sep 2016 Last Revised: 31 Aug 2017
Stanimira Milcheva and Bing Zhu
University College London and University of Reading - Henley Business School
Downloads 113 (449,110)
Citation 2

Abstract:

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Spatial CAPM, Systemic Risk, Idiosyncratic Risk, Contagion, Spillovers, Listed Property Returns, Economic Integration

17.

Transaction Taxes and Housing Market Dynamics: New Evidence from a Quasi-Natural Experiment

Number of pages: 72 Posted: 14 Jan 2022 Last Revised: 25 Oct 2023
Yunlong Huang and Stanimira Milcheva
University College London and University College London
Downloads 112 (452,062)

Abstract:

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Property transaction tax, stamp duty land tax, house prices, price spread, redistribution effects, bargaining power, big data.

18.

The Price–Time-on-Market Puzzle Revisited: Evidence from Big Data

Number of pages: 30 Posted: 04 May 2021 Last Revised: 09 Jun 2022
Yunlong Huang and Stanimira Milcheva
University College London and University College London
Downloads 94 (510,283)

Abstract:

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Time on market, TOM, house price, 2SLS, chain-free, big data.

19.

Conform or Resist? Spatio-Temporal Spillover Effects of Surrounding Apartment Transactions in a Boom and a Recession

Number of pages: 31 Posted: 30 Sep 2016
Dongwoo Hyun and Stanimira Milcheva
University of Reading - Henley Business School and University College London
Downloads 94 (510,283)

Abstract:

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Hedonic House Price Model, Spatio-Temporal Autoregressive Model, Spatial Spillover Effects, Transaction Apartment Data, Boom and Recession

20.

A New Framework for Risk Indices in Illiquid Markets

Number of pages: 48 Posted: 12 Aug 2022 Last Revised: 04 Jan 2023
Dragana Cvijanovic, Stanimira Milcheva and Alex Van de Minne
Cornell SC Johnson College of Business, University College London and University of Connecticut - School of Business
Downloads 92 (517,251)

Abstract:

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Uncertainty, Stochastic Volatility, Noise, Valuation Uncertainty, Bayesian Estimation, Repeat Sales Model, Commercial Real Estate, Illiquid Markets

21.

Bank Liquidity Management through the Issuance of Bonds in the Aftermath of the Global Financial Crisis

Number of pages: 34 Posted: 19 Jul 2017 Last Revised: 05 Dec 2018
Stanimira Milcheva, Holger Markmann and Heidi Falkenbach
University College London, EBS Universität für Wirtschaft und Recht and Aalto University
Downloads 89 (528,160)

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Bank Funding, Capital Structure, Long-Term Wholesale Funding, Covered Bonds, MBS, Senior Unsecured Bonds

22.

Market Integration, Country Institutions and IPO Underpricing

Number of pages: 42 Posted: 13 Dec 2018
Gianluca Marcato, Stanimira Milcheva and Cheng Zheng
Henley Business School - University of Reading, University College London and Independent
Downloads 69 (612,043)
Citation 10

Abstract:

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Financial Market Integration, IPO Underpricing, Country Institutions, Hierarchical Linear Modelling, Foreign IPOs

23.

The Pricing of Spatial Linkages in Companies’ Underlying Assets

Number of pages: 51 Posted: 24 Feb 2017
Bing Zhu and Stanimira Milcheva
University of Cambridge - Faculty of Economics and University College London
Downloads 68 (616,709)

Abstract:

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Asset pricing, Factor Models, Spatial Weights, Properties, Distance, Hedging Strategies

24.

Creating a Green Building Ecosystem: The Impact of Local Sustainability Polices

Number of pages: 29 Posted: 25 Apr 2023
Meagan McCollum and Stanimira Milcheva
University of Tulsa - Collins College of Business and University College London
Downloads 59 (662,734)

Abstract:

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ESG policies, energy efficiency, real estate property performance, NOI, yields, mortgage delinquency.

25.

What Do We Learn from Mobile Phone Location Data about Mobility and Housing During Covid-19

Number of pages: 40 Posted: 28 Dec 2023 Last Revised: 02 Jan 2024
Shizhen Wang, Stanimira Milcheva and Nikodem Szumilo
University College London, University College London and UCL - University College London
Downloads 50 (715,034)

Abstract:

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Mobility patterns, house prices and rents, workplace visits, amenities, mobile phone location data, Covid-19

26.

Distance to Headquarter and Real Estate Equity Performance

Forthcoming, Journal of Real Estate Finance and Economics
Number of pages: 37 Posted: 08 Jun 2020
Stanimira Milcheva, Yildiray Yildirim and Bing Zhu
University College London, Zicklin School of Business, Baruch College - The City University of New York and University of Reading - Henley Business School
Downloads 47 (734,110)

Abstract:

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Distance to headquarter, real estate returns

27.

Total Returns to Residential Rental Housings

Number of pages: 25 Posted: 07 May 2024
Hang Lai and Stanimira Milcheva
University College London and University College London
Downloads 13 (1,028,062)

Abstract:

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Rental housing, Total Rate of Returns, Capital Gain, Net Income Yield

28.

The Housing Market Channel of Monetary Policy Transmission in the Euro Area

Journal of European Real Estate Research, Vol. 9 (1), 76-97, 2016
Posted: 16 Sep 2020
Stanimira Milcheva and Steffen P. Sebastian
University College London and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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consumption; housing markets; mortgage markets; residential investment

29.

Urban Economic Openness and IPO Underpricing

Journal of Real Estate Finance and Economics, Vol. 56, No. 3, 2018
Posted: 14 Mar 2018
Gianluca Marcato, Stanimira Milcheva and Cheng Zheng
Henley Business School - University of Reading, University College London and Independent

Abstract:

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Ipo Underpricing; Urban Economic Openness; Real Estate; China