Eva Steiner

Penn State Smeal College of Business

University Park, PA 16802

United States

  • Penn State Smeal College of Business

SCHOLARLY PAPERS

29

DOWNLOADS

7,604

SSRN CITATIONS

55

CROSSREF CITATIONS

16

Scholarly Papers (29)

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1.

The Rate of Return on Real Estate: Long-Run Micro-Level Evidence

HEC Paris Research Paper No. FIN-2019-1342
Number of pages: 59 Posted: 25 Jun 2019 Last Revised: 06 Jan 2021
David Chambers, Christophe Spaenjers and Eva Steiner
University of Cambridge - Judge Business School, University of Colorado Boulder - Leeds School of Business and Penn State Smeal College of Business
Downloads 1,910 (15,222)
Citation 8

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real estate, income growth, income yields, property prices, long-run returns

2.

On the Capital Structure of Real Estate Firms

23rd Australasian Finance and Banking Conference 2010 Paper
Number of pages: 32 Posted: 23 Aug 2010 Last Revised: 05 Apr 2011
Jamie Alcock, Eva Steiner and Kelvin Jui Keng Tan
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School
Downloads 1,061 (36,649)
Citation 1

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Capital Structure, Leverage, Maturity, Real Estate Firms

3.

Climate Change and Commercial Real Estate: Evidence from Hurricane Sandy

Number of pages: 47 Posted: 23 Jul 2018 Last Revised: 17 Mar 2021
Jawad M. Addoum, Piet M. A. Eichholtz, Eva Steiner and Erkan Yönder
Cornell SC Johnson College of Business, University of Maastricht - Limburg Institute of Financial Economics (LIFE), Penn State Smeal College of Business and John Molson School of Business, Concordia University
Downloads 870 (48,339)
Citation 12

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Climate change, flood risk, asset prices, investor sophistication, real estate

4.

Specialization and Performance in Private Equity: Evidence from the Hotel Industry

Number of pages: 72 Posted: 16 Dec 2020 Last Revised: 17 Jul 2023
Christophe Spaenjers and Eva Steiner
University of Colorado Boulder - Leeds School of Business and Penn State Smeal College of Business
Downloads 821 (52,435)
Citation 2

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private equity, investment performance, firm ownership, real estate

5.

Decomposing the Value Effects of Sustainable Investment: International Evidence

Number of pages: 33 Posted: 22 Feb 2017
Avis Devine, Eva Steiner and Erkan Yönder
York University - Schulich School of Business, Penn State Smeal College of Business and John Molson School of Business, Concordia University
Downloads 461 (108,814)

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Real Estate Investment Trusts, Sustainability, Energy Efficiency

6.

Future Earnings Growth Volatility and the Value Premium

24th Australasian Finance and Banking Conference 2011 Paper, Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 31 Posted: 22 Aug 2011 Last Revised: 16 Jan 2012
Jamie Alcock, Eva Steiner and Kelvin Jui Keng Tan
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School
Downloads 239 (220,488)
Citation 1

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Asset pricing, Fama-French factor model, market efficiency

7.

Financial Flexibility and Manager-Shareholder Conflict: Evidence from REITs

Number of pages: 57 Posted: 06 May 2016 Last Revised: 21 Feb 2023
Timothy J. Riddiough and Eva Steiner
University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics and Penn State Smeal College of Business
Downloads 235 (224,167)
Citation 3

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Real estate investment trusts, capital structure, financial flexibility

8.

The Consequences of REIT Index Membership for Return Patterns

Number of pages: 49 Posted: 20 Sep 2016 Last Revised: 21 Feb 2023
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 220 (238,713)

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Real Estate, Investment, Index Membership, REITs

9.

Location Density, Systematic Risk, and Cap Rates: Evidence from REITs

Number of pages: 38 Posted: 11 Jun 2021 Last Revised: 13 Jun 2021
Gregg S. Fisher, Eva Steiner, Sheridan Titman and Ashvin Viswanathan
Quent Capital, Penn State Smeal College of Business, University of Texas at Austin - Department of Finance and People's United Advisors
Downloads 201 (259,431)
Citation 8

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Portfolio risk, real estate equity investment, property market fundamentals

10.

Unexpected Inflation, Capital Structure and Real Risk-Adjusted Firm Performance

Downloads 190 (272,914)

Unexpected Inflation, Capital Structure and Real Risk-Adjusted Firm Performance

Number of pages: 35 Posted: 25 Aug 2014
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 148 (338,403)

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REITs, leverage, inflation hedging, real risk-adjusted performance

Unexpected Inflation, Capital Structure, and Real Risk-Adjusted Firm Performance

Number of pages: 35 Posted: 24 Feb 2023
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 42 (727,793)

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REITs, Leverage, Inflation Hedging, Real Risk-Adjusted Performance

11.

Leverage, Volatile Future Earnings Growth and Expected Stock Returns

Number of pages: 47 Posted: 08 Aug 2014 Last Revised: 15 Aug 2014
Jamie Alcock, Eva Steiner and Kelvin Jui Keng Tan
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School
Downloads 166 (306,913)

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corporate leverage, default risk, earnings risk, earnings growth, value vs growth, stochastic earnings valuation model.

12.

Unconventional Monetary Policy and Risk-Taking: Evidence from Agency Mortgage REITs

Downloads 158 (320,097)

Unconventional Monetary Policy and Risk-Taking: Evidence from Agency Mortgage REITs

Number of pages: 42 Posted: 22 Jun 2018
W. Scott Frame and Eva Steiner
Structured Finance Association and Penn State Smeal College of Business
Downloads 104 (443,110)

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Quantitative Easing, Risk-Taking, REITs, GSEs, Mortgages, Securitization

Unconventional Monetary Policy and Risk-Taking: Evidence from Agency Mortgage Reits

FRB Atlanta Working Paper No. 2018-8
Number of pages: 42 Posted: 23 Aug 2018 Last Revised: 29 Apr 2020
W. Scott Frame and Eva Steiner
Structured Finance Association and Penn State Smeal College of Business
Downloads 54 (651,293)

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quantitative easing, risk-taking, REITs, GSEs, mortgages, securitization

13.

Financial Flexibility and Manager-Shareholder Conflict

Number of pages: 63 Posted: 28 May 2017
Timothy J. Riddiough and Eva Steiner
University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics and Penn State Smeal College of Business
Downloads 153 (328,817)
Citation 3

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Capital structure, financial flexibility, collateral channel

14.

Did PPP Loans Distort Business Competition? Evidence from the Hotel Industry

Number of pages: 57 Posted: 18 Nov 2021 Last Revised: 15 Jun 2022
Eva Steiner and Alexei Tchistyi
Penn State Smeal College of Business and Cornell SC Johnson College of Business
Downloads 135 (363,188)

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PPP loans, Covid-19, Subsidies, Monopolistic competition

15.

REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Forthcoming
Number of pages: 46 Posted: 06 Feb 2016 Last Revised: 21 Feb 2023
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 130 (373,855)
Citation 1

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Real estate investment; leverage; financial crisis

16.

REIT Capital Structure Choices: When Does Preparation Matter?

Number of pages: 47 Posted: 21 Apr 2021
Desen Lin, Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
California State University, Fullerton, Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 125 (385,151)

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Real estate investment, leverage, financial crisis

17.

Fundamental Drivers of Dependence in REIT Returns

Downloads 125 (385,151)

Fundamental Drivers of Dependence in REIT Returns

Number of pages: 46 Posted: 04 Oct 2015
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 125 (386,525)
Citation 1

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Portfolio Diversification, REITs, Real estate as an asset class

Fundamental Drivers of Dependence in REIT Returns

Journal of Real Estate Finance and Economics, Vol. 57, No. 1, 2018
Posted: 24 Aug 2018
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business

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Portfolio Diversification; REITs, Real Estate as an Asset Class

18.

What Really Happens During Flight to Safety: Evidence from Real Estate Markets

Number of pages: 36 Posted: 25 May 2018
Walter Boudry, Robert A. Connolly and Eva Steiner
Cornell University, University of Florida and Penn State Smeal College of Business
Downloads 100 (452,597)

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Flight to Safety, Macro Finance, Capital Markets, Real Estate, Asset Pricing

19.

Economic Fundamentals, Capital Expenditures and Asset Dispositions

Number of pages: 31 Posted: 21 Sep 2017 Last Revised: 07 Feb 2019
Brent W. Ambrose and Eva Steiner
Pennsylvania State University and Penn State Smeal College of Business
Downloads 85 (501,988)

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Disposition effect, real assets, real options

20.

Quantitative Easing and Financial Risk Taking: Evidence from Agency Mortgage Reits

FRB of Dallas Working Paper No. 2020
Number of pages: 41 Posted: 08 Jul 2020
W. Scott Frame and Eva Steiner
Structured Finance Association and Penn State Smeal College of Business
Downloads 72 (552,775)

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21.

The Best Cities for Firms

Number of pages: 40 Posted: 06 Sep 2023 Last Revised: 25 Oct 2023
Andra C. Ghent and Eva Steiner
University of Utah - David Eccles School of Business and Penn State Smeal College of Business
Downloads 68 (570,051)

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Local employment, Agglomeration economies

22.

Distorting Effects of PPP Loans on Business Competition

Number of pages: 57 Posted: 26 Apr 2023
Eva Steiner and Alexei Tchistyi
Penn State Smeal College of Business and Cornell University
Downloads 32 (782,001)

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PPP loans, Covid-19, Subsidies, Monopolistic competition

23.

The Interrelationships between REIT Capital Structure and Investment

Abacus, Vol. 53: 371– 394, 2017. doi: 10.1111/abac.12113.
Number of pages: 35 Posted: 06 Mar 2023
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 25 (839,348)

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Agency conflict, Capital structure, Investment, Leverage, Maturity, REITs

24.

Macroeconomic Risk Factors and the Role of Mis-Priced Credit in the Returns from International Real Estate Securities

AREUEA, 2013
Number of pages: 34 Posted: 24 Feb 2023
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 22 (866,186)

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Real Estate Investment Firms, International Asset Pricing, Macroeconomic Risk Factors, Credit Markets

25.

Do Real Estate Values Boost Corporate Borrowing? Evidence from Contract-Level Data

Posted: 28 Dec 2020
Murillo Campello, Robert A. Connolly, Gaurav Kankanhalli and Eva Steiner
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Florida, University of Pittsburgh - Katz Graduate School of Business and Penn State Smeal College of Business

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Collateral, capital structure, corporate real estate, investment, asset risk

26.

Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

Real Estate Economics, Forthcoming
Posted: 06 Dec 2013
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate

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Real estate investment firms, International asset pricing, Macroeconomic risk factors, Credit markets

27.

Joint Leverage and Maturity Choices in Real Estate Firms: The Role of the REIT Status

Journal of Real Estate Finance and Economics, 2014, 48(1), 57-78
Posted: 03 Dec 2013 Last Revised: 10 Oct 2014
Jamie Alcock, Eva Steiner and Kelvin Jui Keng Tan
University of Oxford, Penn State Smeal College of Business and University of Queensland - Business School

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Leverage; Debt maturity; Capital structure

28.

Manipulation in U.S. REIT Investment Performance Evaluation: Empirical Evidence

Journal of Real Estate Finance and Economics, Vol. 47, No. 3, 2013
Posted: 04 Sep 2013
Jamie Alcock, John L. Glascock and Eva Steiner
University of Oxford, University of Connecticut - School of Business - Center for Real Estate and Urban Economic Studies and Penn State Smeal College of Business

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real estate, performance valuation, manipulation

29.

The Role of Financial Leverage in the Performance of Private Equity Real Estate Funds

Journal of Portfolio Management, 2013, 39(5), 99-110
Posted: 08 Feb 2013 Last Revised: 20 Feb 2014
Jamie Alcock, Andrew Baum, Nicholas Colley and Eva Steiner
University of Oxford, University of Oxford, Said Business School, Property Funds Research and Penn State Smeal College of Business

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Private equity real estate funds, performance analysis, financial leverage