Walter N. Torous

Massachusetts Institute of Technology

Center for Real Estate and Sloan School

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

22

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8,543

SSRN CITATIONS
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Top 5,536

in Total Papers Citations

209

CROSSREF CITATIONS

93

Scholarly Papers (22)

1.

Forecasting Real Estate Prices

Handbook of Economic Forecasting: Vol II, G. Elliott and A. Timmermann, eds., Elsevier, 2012
Number of pages: 91 Posted: 21 Apr 2013
University of North Carolina Kenan-Flagler Business School, Universita' della Svizzera italiana, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management
Downloads 1,589 (20,187)
Citation 7

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real estate, predictability, market efficiency, REIT

2.

Do Industries Lead the Stock Market? Gradual Diffusion of Information and Cross-Asset Return Predictability

AFA 2004 San Diego Meetings; Anderson School of Management Working Paper
Number of pages: 42 Posted: 23 Nov 2003
Walter N. Torous, Rossen I. Valkanov and Harrison G. Hong
Massachusetts Institute of Technology, University of California, San Diego (UCSD) - Rady School of Management and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 1,418 (23,996)
Citation 99

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3.

Expected Returns and the Expected Growth in Rents of Commercial Real Estate

EFA 2007 Ljubljana Meetings Paper, EFA 2005 Moscow Meetings Paper, AFA 2007 Chicago Meetings Paper
Number of pages: 62 Posted: 25 Jul 2005 Last Revised: 10 Oct 2016
Walter N. Torous, Rossen I. Valkanov and Alberto Plazzi
Massachusetts Institute of Technology, University of California, San Diego (UCSD) - Rady School of Management and Universita' della Svizzera italiana
Downloads 987 (40,528)
Citation 15

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Cap rate, real estate, return predictability

4.

Complexity in Structured Finance

Number of pages: 68 Posted: 15 Sep 2013 Last Revised: 05 Nov 2017
Andra C. Ghent, Walter N. Torous and Rossen I. Valkanov
University of Utah - David Eccles School of Business, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management
Downloads 667 (68,737)
Citation 20

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Complexity, Security Design, MBS Performance

5.

Reading the Tea Leaves: Model Uncertainty, Robust Forecasts, and the Autocorrelation of Analysts' Forecast Errors

Chicago Booth Research Paper No. 10-04, CRSP Working Paper
Number of pages: 58 Posted: 28 Jan 2010 Last Revised: 11 Aug 2015
Juhani T. Linnainmaa, Walter N. Torous and James Yae
Dartmouth College - Tuck School of Business, Massachusetts Institute of Technology and University of Houston - C. T. Bauer College of Business
Downloads 576 (82,591)
Citation 12

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Model uncertainty, parameter uncertainty, forecasting, robustness, financial analysts

6.

Does Corporate Governance Matter? Evidence from the AGR Governance Rating

Swiss Finance Institute Research Paper No. 16-54
Number of pages: 40 Posted: 09 Sep 2016 Last Revised: 05 Dec 2019
Alberto Plazzi, Walter N. Torous and Umit Yilmaz
Universita' della Svizzera italiana, Massachusetts Institute of Technology and Georgetown University - McDonough School of Business
Downloads 570 (83,690)

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corporate governance, AGR, operating performance

7.

Commercial Office Space: Tests of a Real Options Model with Competitive Interactions

Number of pages: 21 Posted: 08 Dec 2003
Massachusetts Institute of Technology and Simon Fraser University (SFU)University of California, Los Angeles (UCLA) - Finance Area
Downloads 416 (122,419)
Citation 8

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8.

Financial Decision Making When Buying and Owning a Home

Number of pages: 40 Posted: 21 Sep 2014
National University of Singapore, Cornell University - School of Hotel Administration, Massachusetts Institute of Technology and Georgia State University - J. Mack Robinson College of Business
Downloads 380 (136,112)
Citation 5

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis

9.

The Cross-Sectional Dispersion of Commercial Real Estate Returns and Rent Growth: Time Variation and Economic Fluctuations

Number of pages: 40 Posted: 19 Nov 2004
Alberto Plazzi, Walter N. Torous and Rossen I. Valkanov
Universita' della Svizzera italiana, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management
Downloads 377 (136,893)

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Commercial real estate, cross-sectional volatility, total risk

10.

The Mistakes People Make: Financial Decision Making when Buying and Owning a Home

MIT Center for Real Estate Research Paper No. 21/09
Number of pages: 56 Posted: 17 Feb 2021
National University of Singapore, Cornell University - School of Hotel Administration, Massachusetts Institute of Technology and Georgia State University - J. Mack Robinson College of Business
Downloads 353 (147,160)

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis

11.

Pricing the Defeasance Option in Securitized Commercial Mortgages

Number of pages: 25 Posted: 23 Jul 2004
Martin Dierker, Daniel C. Quan and Walter N. Torous
University of Houston - C.T. Bauer College of Business, Cornell University - School of Hotel Administration and Massachusetts Institute of Technology
Downloads 348 (149,456)
Citation 5

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Commercial mortgage-backed securities, defeasance, mortgage prepayment, exchange option

12.

Evolving Inflation Dynamics, Monetary Policy, and the Fisher Hypothesis

Number of pages: 62 Posted: 04 Dec 2003
Shingo Goto and Walter N. Torous
University of Rhode Island - College of Business Administration and Massachusetts Institute of Technology
Downloads 246 (213,876)
Citation 5

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13.

Contagion in the Presence of Stochastic Interdependence

Number of pages: 27 Posted: 18 Sep 2006
Clifford A. Ball and Walter N. Torous
Vanderbilt University - Finance and Massachusetts Institute of Technology
Downloads 188 (274,830)
Citation 4

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Contagion, Interdependence, Stochastic covariance

Assessing Proxies for Market Prices of Thinly Traded Assets with Scheduled Cash Flows

MIT Center for Real Estate Research Paper No. 22/09, SMU Cox School of Business Research Paper No. 22-21
Number of pages: 37 Posted: 05 Oct 2022
Southern Methodist University (SMU) - Real Estate, Insurance, & Business Law Department, Cornell University - School of Hotel Administration, Southern Methodist University (SMU) - Finance Department and Massachusetts Institute of Technology
Downloads 153 (328,266)

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15.

Using Cash Flow Dynamics to Price Thinly Traded Assets: The Case of Commercial Real Estate

Number of pages: 46 Posted: 02 Nov 2014
Cornell University, Cornell University - School of Hotel Administration, University of Miami - Department of Finance and Massachusetts Institute of Technology
Downloads 102 (445,226)

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Thinly traded assets, asset pricing, panel vector autoregression, commercial real estate

16.

Second Mortgages: Valuation and Implications for the Performance of Structured Financial Products

Number of pages: 41 Posted: 28 Aug 2016
Andra C. Ghent, Kristian R. Miltersen and Walter N. Torous
University of Utah - David Eccles School of Business, Copenhagen Business School and Massachusetts Institute of Technology
Downloads 94 (470,004)

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Mortgage-Backed Securities (MBS), Mortgage Valuation, Credit Ratings.

17.

Using Cash Flow Dynamics to Price Thinly Traded Assets

Number of pages: 49 Posted: 27 Nov 2017 Last Revised: 09 Jul 2019
Cornell University, Cornell University - School of Hotel Administration, University of Miami - Department of Finance and Massachusetts Institute of Technology
Downloads 79 (522,830)

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asset pricing, thinly traded assets, panel vector autoregression, fixed income, commercial mortgage-backed securities

18.

Commercial Real Estate as an Asset Class

Annual Review of Financial Economics, Vol. 11, pp. 153-171, 2019
Posted: 12 Jan 2020
Andra C. Ghent, Rossen I. Valkanov and Walter N. Torous
University of Utah - David Eccles School of Business, University of California, San Diego (UCSD) - Rady School of Management and Massachusetts Institute of Technology

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19.

Exploiting Property Characteristics in Commercial Real Estate Portfolio Allocation

Swiss Finance Institute Research Paper No. 11-07, https://doi.org/10.3905/jpm.2011.37.5.039
Posted: 21 May 2019
Alberto Plazzi, Walter N. Torous and Rossen I. Valkanov
Universita' della Svizzera italiana, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management

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Dynamic portfolio choice, real estate, cap rate

20.

Regime Shifts in Short Term Riskless Interest Rates

#216- 1995
Posted: 22 Aug 1998
Walter N. Torous and Clifford A. Ball
Massachusetts Institute of Technology and Vanderbilt University - Finance

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21.

A Comparison of Us, UK and German Insolvency Codes

London Business School Institute of Finance and Accounting Working Paper 206
Posted: 09 Jul 1998
Kjell G. Nyborg, Julian R. Franks and Walter N. Torous
University of Zurich - Department of Banking and Finance, London Business School - Institute of Finance and Accounting and Massachusetts Institute of Technology

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22.

The Cyclical Behavior of Interest Rates

JOURNAL OF FINANCE, September 1997
Posted: 14 Jul 1997
Antonio Roma and Walter N. Torous
Universita di Siena and Massachusetts Institute of Technology

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