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Inflation Regression Tendencies: A study of Swedish real estate stocks
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This study investigates different Swedish real estate stock portfolios based on property holdings, market capitalization size and location characteristics to examine how well these portfolios are hedges against expected and unexpected inflation. The Fama and Schwert (1977) model and an ordinary least squares (OLS) regression were used to investigate the inflation-hedging features of different characteristics of real estate stocks. The findings indicate that commercial real estate stocks may present a hedging capability for unexpected inflation. Also, companies with a market capitalization under 20Billion SEK may exhibit hedging characteristics under expected and unexpected inflation environments. Other findings also support previous research that poor hedging features are mainly explained by inflation illusion, suggesting that it is difficult to find hedging characteristics for Swedish real estate stocks under different levels of inflation.

Place, publisher, year, edition, pages
2019. , p. 31
Keywords [en]
inflation; real estate stocks; investments; hedge
National Category
Business Administration
Identifiers
URN: urn:nbn:se:uu:diva-391487OAI: oai:DiVA.org:uu-391487DiVA, id: diva2:1345112
Educational program
Master's Programme in Accounting and Financial Management
Supervisors
Examiners
Available from: 2019-08-27 Created: 2019-08-22 Last updated: 2019-08-27Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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Language
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Output format
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