Walter N. Torous

Massachusetts Institute of Technology

Center for Real Estate and Sloan School

Cambridge, MA 02138

United States

  • Massachusetts Institute of Technology

SCHOLARLY PAPERS

21

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101

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100

Scholarly Papers (21)

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1.

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 1,315 (15,915)
Citation 86

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2.

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
Eric Ghysels, Alberto Plazzi, Walter N. Torous and Rossen I. Valkanov
University of North Carolina Kenan-Flagler Business School, Swiss Finance Institute, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management
Downloads 1,303 (16,138)
Citation 6

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real estate, predictability, market efficiency, REIT

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 Swiss Finance Institute
Downloads 840 (30,798)
Citation 8

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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 North Carolina (UNC) at Chapel Hill - Finance Area, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management
Downloads 576 (51,098)
Citation 16

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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 510 (59,550)
Citation 3

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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
Swiss Finance Institute, Massachusetts Institute of Technology and Swiss Finance Institute at the University of Lugano
Downloads 507 (59,953)

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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
Walter N. Torous and Eduardo S. Schwartz
Massachusetts Institute of Technology and Simon Fraser University (SFU)
Downloads 384 (83,860)
Citation 7

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8.

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

Downloads 336 ( 96,386)
Citation 8

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
Swiss Finance Institute, Massachusetts Institute of Technology and University of California, San Diego (UCSD) - Rady School of Management
Downloads 336 (96,957)

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Commercial real estate, cross-sectional volatility, total risk

9.

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 315 (104,898)
Citation 5

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

10.

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 215 (154,958)
Citation 5

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11.

Financial Decision Making When Buying and Owning a Home

Number of pages: 40 Posted: 21 Sep 2014
Sumit Agarwal, Crocker Herbert Liu, Walter N. Torous and Vincent Yao
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 198 (167,390)
Citation 5

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

12.

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 157 (205,172)
Citation 4

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Contagion, Interdependence, Stochastic covariance

13.

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 North Carolina (UNC) at Chapel Hill - Finance Area, Copenhagen Business School and Massachusetts Institute of Technology
Downloads 71 (354,894)

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

14.

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

Number of pages: 46 Posted: 02 Nov 2014
Walter Boudry, Crocker Herbert Liu, Tobias Muhlhofer and Walter N. Torous
Cornell University, Cornell University - School of Hotel Administration, University of Miami - Department of Finance and Massachusetts Institute of Technology
Downloads 68 (363,317)

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

15.

Using Cash Flow Dynamics to Price Thinly Traded Assets

Number of pages: 49 Posted: 27 Nov 2017 Last Revised: 09 Jul 2019
Walter Boudry, Crocker Herbert Liu, Tobias Muhlhofer and Walter N. Torous
Cornell University, Cornell University - School of Hotel Administration, University of Miami - Department of Finance and Massachusetts Institute of Technology
Downloads 51 (417,755)
Citation 1

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

16.

Commercial Office Space: Testing the Implications of Real Options Models With Competitive Interactions

Real Estate Economics, Vol. 35, No. 1, pp. 1-20, Spring 2007
Number of pages: 20 Posted: 16 Feb 2007
Walter N. Torous and Eduardo S. Schwartz
Massachusetts Institute of Technology and Simon Fraser University (SFU)
Downloads 37 (473,655)
Citation 1
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17.

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 North Carolina (UNC) at Chapel Hill - Finance Area, University of California, San Diego (UCSD) - Rady School of Management and Massachusetts Institute of Technology

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18.

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
Swiss Finance Institute, 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

19.

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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20.

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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21.

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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