Home Page of Professor Tobias Mühlhofer
I am a Research Associate Professor in the Finance Department at the School of Business Administration, University of Miami, Coral Gables, FL.
School of Business Administration
University of Miami
514-S Jenkins Building
Coral Gables, FL 33131
Here is a link to my
My research interests lie in real estate finance, as well as in empirical asset pricing.
Alternative Benchmarks for Evaluating Mutual Fund Performance.
Joint with Jay Hartzell and Sheridan Titman. Published in
Real Estate Economics, 38(1), Spring 2010, 121-154
Please contact me if you would like data for the characteristic-based benchmarks from this paper.
Why do REIT Returns Poorly Reflect Property Returns? Unrealizable Appreciation Gains due to Trading Constraints as the Solution to the Short-Term Disparity
. This draft, April 2012. Published in
Real Estate Economics, 41, 2013, 814-857
They Would if They Could: Assessing the Bindingness of the Property Holding Constraints for REITs
. This draft, November 2014. Forthcoming at
Real Estate Economics
Market Timing and Investment Selection: Evidence from Real Estate Investors.
This draft, August 2016, joint with Yael Hochberg. Published in
Journal of Financial and Quantitative Analysis, 52(6), 2643-2675.
Do Stock Prices Move too Much to be Justified by Changes in Cash Flows? New Evidence from Parallel Asset Markets.
This draft, November 2017, joint with Andrey Ukhov. Revise and Resubmit,
Journal of Financial and Quantitative Analysis
Using Cash Flow Dynamics to Price Thinly Traded Assets.
This draft, May 2018, joint with Wally Boudry, Crocker Liu, and Walt Tourous.
The Influence of Benchmarking on Portfolio Choices: The Effect of Sector Funds.
This draft, November 2017, joint with Jay Hartzell and Sheridan Titman.
Capital-Market Competitiveness and Managerial Investment Decisions: Evidence from Commercial Real Estate.
This draft, November 2017, joint with Yael Hochberg.
If You Show It, They Will Use It: The "CAPM Heuristic" and Mutual Fund Allocation Decisions
This draft, December 2018, joint with Indraneel Chakraborty, Alok Kumar, and Ravi Sastry.
Leverage Cycles in a Mature Asset Class: New Evidence from a Natural Laboratory
This draft, March 2019, joint with Bob Connolly.
Trading Constraints and the Investment Value of Real Estate Investment Trusts: An Empirical Examination
. Doctoral thesis, London School of Economics.
Updates coming soon!