Eva Steiner

Penn State Smeal College of Business

University Park, PA 16802

United States

  • Penn State Smeal College of Business

SCHOLARLY PAPERS

26

DOWNLOADS

5,874

SSRN CITATIONS

20

CROSSREF CITATIONS

23

Scholarly Papers (26)

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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 at Boulder - Leeds School of Business and Penn State Smeal College of Business
Downloads 1,678 (14,989)
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 1,026 (31,097)
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 565 (69,008)
Citation 4

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

4.

The Value of Specialization in Private Equity: Evidence from the Hotel Industry

HEC Paris Research Paper No. FIN-2020-1410
Number of pages: 60 Posted: 16 Dec 2020 Last Revised: 11 Nov 2021
Christophe Spaenjers and Eva Steiner
University of Colorado at Boulder - Leeds School of Business and Penn State Smeal College of Business
Downloads 514 (77,691)
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 389 (107,790)

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Real Estate Investment Trusts, Sustainability, Energy Efficiency

6.

Financial Flexibility and Manager-Shareholder Conflict: Evidence from REITs

Downloads 215 (198,235)
Citation 4

Financial Flexibility and Manager-Shareholder Conflict: Evidence from REITs

Forthcoming, Real Estate Economics
Number of pages: 57 Posted: 06 May 2016 Last Revised: 25 Oct 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 213 (199,728)
Citation 3

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Real estate investment trusts, capital structure, financial flexibility

Financial Flexibility and Manager–Shareholder Conflict: Evidence from Reits

Real Estate Economics, Vol. 48, Issue 1, pp. 200-239, 2020
Number of pages: 40 Posted: 04 Jun 2020
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 2 (917,298)
Citation 1

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7.

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 211 (201,763)
Citation 1

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Asset pricing, Fama-French factor model, market efficiency

8.

The Consequences of REIT Index Membership for Return Patterns

Downloads 194 (217,833)
Citation 1

The Consequences of REIT Index Membership for Return Patterns

Number of pages: 40 Posted: 20 Sep 2016 Last Revised: 04 Oct 2016
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 194 (217,749)

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Real Estate, Investment, Index Membership, REITs

The Consequences of REIT Index Membership for Return Patterns

Real Estate Economics, Vol. 46, Issue 1, pp. 210-250, 2018
Number of pages: 41 Posted: 21 Feb 2018
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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9.

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 152 (267,673)

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

10.

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

Downloads 130 (304,223)
Citation 3

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 130 (305,483)

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

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

Abacus, Vol. 53, Issue 2, pp. 273-298, 2017
Number of pages: 26 Posted: 03 Jun 2017
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 0
Citation 1

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Capital structure, Inflation hedging, Nominal assets, Real risk‐adjusted performance, REITs

11.

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 129 (304,223)
Citation 1

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Capital structure, financial flexibility, collateral channel

12.

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 128 (306,005)

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Portfolio risk, real estate equity investment, property market fundamentals

13.

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

Downloads 108 (345,092)
Citation 1

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
Federal Reserve Bank of Dallas and Penn State Smeal College of Business
Downloads 74 (439,946)
Citation 1

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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
Federal Reserve Bank of Dallas and Penn State Smeal College of Business
Downloads 34 (621,329)

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

14.

Fundamental Drivers of Dependence in REIT Returns

Downloads 108 (345,092)
Citation 1

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 108 (347,338)
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

15.

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 80 (416,201)

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Real estate investment, leverage, financial crisis

16.

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 67 (458,382)

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PPP loans, Covid-19, Subsidies, Monopolistic competition

17.

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 65 (465,366)

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

18.

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 64 (469,056)

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Disposition effect, real assets, real options

19.

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
Federal Reserve Bank of Dallas and Penn State Smeal College of Business
Downloads 47 (539,089)

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20.

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

Downloads 2 (879,396)
Citation 3

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

Real Estate Economics, Vol. 43, Issue 1, pp. 241-270, 2015
Number of pages: 30 Posted: 17 Feb 2015
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 2 (917,298)
Citation 3

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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

21.

The Interrelationships between REIT Capital Structure and Investment

Abacus, Vol. 53, Issue 3, pp. 371-394, 2017
Number of pages: 24 Posted: 20 Sep 2017
Jamie Alcock and Eva Steiner
University of Oxford and Penn State Smeal College of Business
Downloads 1 (893,913)
Citation 2

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

22.

REIT Capital Structure Choices: Preparation Matters

Downloads 1 (893,913)
Citation 2

REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Vol. 46, Issue 1, pp. 160-209, 2018
Number of pages: 50 Posted: 21 Feb 2018
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 1 (933,997)
Citation 2

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REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Forthcoming
Posted: 06 Feb 2016 Last Revised: 26 Aug 2016
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

Abstract:

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Real estate investment; leverage; financial crisis

23.

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

24.

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

25.

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

26.

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