Steffen P. Sebastian

University of Regensburg - International Real Estate Business School (IREBS)

Professor of Real Estate Finance

Universitaetsstrasse 31

Regenburg, Bavaria 93040

Germany

http://www.irebs.de

  • University of Regensburg - International Real Estate Business School (IREBS)

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    • Tel: +49(941)943-5081
    • Fax: +49(941)943-5082
SCHOLARLY PAPERS

36

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30

Scholarly Papers (36)

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1.

Vor- und Nachteile von direkten und indirekten Immobilienanlagen (Advantages and Disadvantages of Direct and Indirect Real Estate Investments)

Number of pages: 30 Posted: 01 Feb 2012 Last Revised: 02 Feb 2012
Steffen P. Sebastian, Bertram I. Steininger and Melanie Wagner-Hauber
University of Regensburg - International Real Estate Business School (IREBS), Royal Institute of Technology (KTH) and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 967 (29,792)
Citation 1

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real estate, funds, REIT, investment

2.

Open End Real Estate Funds - Diamond or Danger?

Number of pages: 36 Posted: 30 Mar 2006
Steffen P. Sebastian and Marcel Tyrell
University of Regensburg - International Real Estate Business School (IREBS) and University of Frankfurt
Downloads 804 (38,492)
Citation 6

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Liquidity Crises, Open-End Real-Estate Funds, Monitoring

3.

Application of Multiple Regressions (Zur Anwendung multipler Regressionsmodelle)

Number of pages: 25 Posted: 05 Feb 2009 Last Revised: 17 Mar 2009
Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS)
Downloads 780 (40,163)

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linear regression model, applied econometrics

4.

Hedonic Price Indices for the Paris Housing Market

Allgemeines Statistisches Archiv (Journal of the German Statistical Society), Forthcoming
Number of pages: 24 Posted: 30 Mar 2006 Last Revised: 03 Nov 2011
Raimond Maurer, Martin Pitzer and Steffen P. Sebastian
Goethe University Frankfurt - Finance Department, Morgan Stanley and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 353 (107,217)

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Real estate investments, hedonic, index construction, Box-Cox transformation

5.

GDP Mimicking Portfolios and the Cross-Section of Stock Returns

Number of pages: 65 Posted: 01 May 2013
Tim Alexander Kroencke, Felix Schindler, Steffen P. Sebastian and Erik Theissen
University of Neuchatel - Institute of Financial Analysis, Steinbeis University Berlin - Center for Real Estate Studies, University of Regensburg - International Real Estate Business School (IREBS) and University of Mannheim - Finance Area
Downloads 264 (146,151)

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Business Cycle, Lead, Lag, Size, Value, Momentum

6.

Inflation Convergence after the Introduction of the Euro

Number of pages: 27 Posted: 07 Dec 2003
Markus Mentz and Steffen P. Sebastian
European Business School - Department of Finance and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 237 (162,497)
Citation 4

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Unit root, Cointegration, Inflation convergence

7.

Characteristics of German Real Estate Return Distributions: Evidence from Germany and Comparison to the U.S. And U.K.

Journal of Real Estate Portfolio Management, Vol. 10, No. 1, 2004
Number of pages: 18 Posted: 13 Dec 2008
Raimond Maurer, Frank Reiner and Steffen P. Sebastian
Goethe University Frankfurt - Finance Department, Goethe University Frankfurt and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 175 (214,581)

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8.

Inflation Risk Analysis of European Real Estate Securities

Journal of Real Estate Research, Vol. 24, No. 1, 2002
Number of pages: 31 Posted: 12 Dec 2008
Steffen P. Sebastian and Raimond Maurer
University of Regensburg - International Real Estate Business School (IREBS) and Goethe University Frankfurt - Finance Department
Downloads 122 (286,659)
Citation 1

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9.

Liquidity Transformation: Open-End Versus Closed-End Funds

Number of pages: 37 Posted: 24 Jan 2009 Last Revised: 03 Nov 2011
Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS)
Downloads 93 (344,412)
Citation 2

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Open-end funds, closed-end funds

10.

Conveyancing Services Market

Centre of European Law and Politics (ZERP), University of Bremen, Study COMP/2006/D3/003
Number of pages: 274 Posted: 14 Nov 2009
Christoph U. Schmid, Steffen P. Sebastian, Gabriel S. Lee, Marcel Fink and Iain Paterson
Ludwig Maximilian University of Munich (LMU) - Faculty of Law, University of Regensburg - International Real Estate Business School (IREBS), Institute for Advanced Studies (IHS) - Department of Economics & Finance, University of Vienna - Institute of Government and Institute for Advanced Studies (IHS) - Department of Economics & Finance
Downloads 81 (374,886)
Citation 5

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regulation, competition, conveyancing service, lawyers, notaries, property rights, real estate, transaction costs

11.

Real Estate Fund Openings and Cannibalization

Downloads 64 (426,636)
Citation 3

Real Estate Fund Openings and Cannibalization

Number of pages: 46 Posted: 06 Oct 2015
David H. Downs, Steffen P. Sebastian and René-Ojas Woltering
Virginia Commonwealth University (VCU) - Department of Finance, Insurance & Real Estate, University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 64 (432,321)
Citation 2

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Real Estate, Fund Flows, Fund Openings, Cannibalization

12.

The Determinants of Real Estate Fund Closures

Number of pages: 45 Posted: 30 Aug 2018
Sebastian Schnejdar, Michael Heinrich, René-Ojas Woltering and Steffen P. Sebastian
University of Regensburg, University of Regensburg, University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 53 (466,566)

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Fund Closure, Open-End Real Estate Funds, Liquidity Crisis, Spillover Effects

13.

Real Estate, Stocks, and Bonds as a Deflation Hedge

The Journal of International Real Estate Review, Vol. 22, 1-26, 2019
Number of pages: 26 Posted: 16 Sep 2020
Benedikt Fleischmann, Carsten Fritz and Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS), University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 24 (613,588)

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14.

Erbbaurecht Als Anlageform Für Institutionelle Investoren (Leasehold as an Asset Class for Institutional Investors)

Zeitschrift für Immobilienökonomie, 2020.
Number of pages: 30 Posted: 08 Sep 2020
Steffen P. Sebastian, Dominik Wagner and Carsten Fritz
University of Regensburg - International Real Estate Business School (IREBS), University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 9 (740,268)

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Leasehold, Ground Lease, Ground Rent, Asset Class, Excess Returns

15.

Guest Editorial — German Journal of Real Estate Research: Special Issue Risk

Zeitschrift für Immobilienökonomie, 2020
Number of pages: 2 Posted: 15 Sep 2020
Sven Bienert and Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)
Downloads 5 (756,049)

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16.

Currency Hedging for Real Estate Investments Outside the Eurozone (Währungsabsicherung bei Immobilienaktien außerhalb des Euroraums)

Zeitschrift für Immobilienökonomie, 2021, Vol. 6, Issue 1, S. 47-63
Posted: 14 Jun 2021
Halil I. Memis and Steffen P. Sebastian
University of Regensburg and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Real Estate, Asset allocation, Currency hedging, Diversification, Spanning Tes

17.

Which Stocks Are Driven by Which Interest Rates? – Evidence From Listed Real Estate

Journal of Property Research, Forthcoming
Posted: 09 Jun 2021
Christian Weis, René-Ojas Woltering and Steffen P. Sebastian
University of Regensburg, University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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18.

ERES is setting new quality standards for the Annual Conference (Guest Editorial)

Journal of European Real Estate Research, Vol. 9, Issue 3, 218-219 (2016)
Posted: 19 Oct 2020
Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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19.

KAGB 2.0, What's Next! (KAGB 2.0, was noch kommt!)

gif im Fokus, Vol. 5(1), 26-27 (2016)
Posted: 19 Oct 2020
Steffen P. Sebastian and Sebastian Schnejdar
University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg

Abstract:

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20.

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

21.

Asset Meltdown – Fact or Fiction?

Journal of Real Estate Portfolio Management, Vol. 17 (1), 27-38, 2011
Posted: 16 Sep 2020
Marcel Marekwica, Raimond Maurer and Steffen P. Sebastian
University of Konstanz, Goethe University Frankfurt - Finance Department and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Asset Pricing, International Financial Markets, Economics of the Elderly

22.

Financial Characteristics of International Real Estate Returns: Evidence from the UK, US, and Germany

Journal of Real Estate Portfolio Management, Vol. 10, 59-76, 2004
Posted: 16 Sep 2020
Raimond Maurer, Frank Reiner and Steffen P. Sebastian
Goethe University Frankfurt - Finance Department, Goethe University Frankfurt and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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23.

Dynamics of Commercial Real Estate Asset Markets, Return Volatility, and the Investment Horizon

Journal of Property Research, Vol. 28 (4), 211-315, 2011
Posted: 15 Sep 2020
Christian Rehring and Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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24.

Capturing the Value Premium - Global Evidence from a Fair Value-Based Investment Strategy

Journal of Banking and Finance, Vol. 86, 2018
Posted: 15 Sep 2020
René-Ojas Woltering, Christian Weis, Felix Schindler and Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS), University of Regensburg, Steinbeis University Berlin - Center for Real Estate Studies and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Global Diversification, Investment Strategy, Net Asset Value Value Premium

25.

Housing Market Stability, Mortgage Market Structure, and Monetary Policy: Evidence From the Euro Area

Journal of Housing Economics, Vol. 37, 2017
Posted: 15 Sep 2020
Bing Zhu, Michael Betzinger and Steffen P. Sebastian
University of Reading - Henley Business School, University of Regensburg and University of Regensburg - International Real Estate Business School (IREBS)

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26.

Inflation-Protecting Asset Allocation: A Downside Risk Analysis

The Journal of Portfolio Management, 2015, Vol. 41, 57-70.
Posted: 15 Sep 2020
Tim Koniarski and Steffen P. Sebastian
University of Regensburg and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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27.

Alternative Real Estate Financing through Real Estate Bonds (Alternative Immobilienfinanzierung durch Immobilienanleihen)

Betriebswirtschaftliche Forschung und Praxis, 2014, Vol. 66 (4), 353-370.
Posted: 15 Sep 2020
Tobias Schnaidt and Steffen P. Sebastian
University of Regensburg and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Immobilienfinanzierung, Real Estate Finance, Anleihe, Bond, Deutschland, Germany

28.

German Valuation: Review of Methods and Legal Framework

Journal of Property Investment & Finance, 2012, Vol. 30 (2), 145-158.
Posted: 15 Sep 2020
Tobias Schnaidt and Steffen P. Sebastian
University of Regensburg and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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market value, property, smoothing methods, valuation standards, open market value

29.

The Links Between Property and the Economy – Evidence From the British and German Markets

Journal of Property Research, 2009, Vol. 26 (2), 171-191.
Posted: 15 Sep 2020
Alexander Schätz and Steffen P. Sebastian
University of Regensburg and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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30.

The Discount to NAV of Distressed Open-End Real Estate Funds

The Journal of Real Estate Finance and Economics, Vol. 61, pages 80–114, 2020
Posted: 03 Aug 2020 Last Revised: 04 Aug 2020
Sebastian Schnejdar, Michael Heinrich, René-Ojas Woltering and Steffen P. Sebastian
University of Regensburg, University of Regensburg, University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)

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31.

Is the Flow-Performance Relationship Really Convex? – The Impact of Data Treatment and Model Specification

Journal of Economics and Finance, Vol. 44, pages 300-320, 2020
Posted: 03 Aug 2020 Last Revised: 04 Aug 2020
Alexander Schiller, René-Ojas Woltering and Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS), University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Mutual funds, Fund flows, Flow-performance relationship

32.

New Evidence on Housing Wealth and Consumption Channels

The Journal of Real Estate Finance and Economics, January 2019, Volume 58, Issue 1, pp 51–79
Posted: 15 May 2019 Last Revised: 31 Aug 2020
Bing Zhu, Lingxiao Li, David H. Downs and Steffen P. Sebastian
University of Reading - Henley Business School, California State University, Fullerton, Virginia Commonwealth University (VCU) - Department of Finance, Insurance & Real Estate and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Consumption; Housing wealth; Home-equity credit; Liquidity constraint

33.

Real Estate Fund Flows and the Flow-Performance Relationship

Journal of Real Estate Finance and Economics, Vol. 52, No. 4, 2016
Posted: 08 Apr 2016
David H. Downs, Steffen P. Sebastian, Christian Weistroffer and René-Ojas Woltering
Virginia Commonwealth University (VCU) - Department of Finance, Insurance & Real Estate, University of Regensburg - International Real Estate Business School (IREBS), European Central Bank (ECB) and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Open-end real estate funds; Fund flows; Flow-performance relationship; Liquidity risk

34.

The German Open-End Fund Crisis - A Valuation Problem?

Journal of Real Estate Finance and Economics, Vol. 50, No. 4, 2015
Posted: 09 Apr 2015
Christian Weistroffer and Steffen P. Sebastian
European Central Bank (ECB) and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Appraisal-based valuation, Transaction-based valuation, Hedonic pricing, Commercial real estate, Open-end real estate funds

35.

Life Cycle Asset Allocation in the Presence of Housing and Tax-Deferred Investing

Downloads 0 (809,212)

Life Cycle Asset Allocation in the Presence of Housing and Tax-Deferred Investing

Journal of Economic Dynamics and Control, Vol. 37, No. 6, 2013
Posted: 01 Nov 2014
Alexander Schaefer, Marcel Fischer and Steffen P. Sebastian
Goethe University Frankfurt - Department of Finance, Copenhagen Business School and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Portfolio choice, housing, tax-deferred investing, tax arbitrage

Life-Cycle Asset Allocation in the Presence of Housing and Tax Deferred Investing

Journal of Economic Dynamics and Control, Vol. 37, 2013
Posted: 15 Sep 2020
Marcel Marekwica, Alexander Schaefer and Steffen P. Sebastian
University of Konstanz, Goethe University Frankfurt - Department of Finance and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Portfolio Choice, Housing, Tax-Deferred Investing, Tax Arbitrage

36.

Inflation-Hedging, Asset Allocation, and the Investment Horizon

Posted: 24 Aug 2010
Benedikt Fleischmann, Christian Rehring and Steffen P. Sebastian
University of Regensburg - International Real Estate Business School (IREBS), University of Regensburg - International Real Estate Business School (IREBS) and University of Regensburg - International Real Estate Business School (IREBS)

Abstract:

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Inflation-hedging, Asset allocation, Investment horizon, Vector autoregression