Do ESG factors drive real estate returns? An empirical analysis of global real estate investment trusts (REITs)
Kovantsevas, Iryna (A.A. 2024/2025) Do ESG factors drive real estate returns? An empirical analysis of global real estate investment trusts (REITs). Tesi di Laurea in Equity markets and alternative investments, Luiss Guido Carli, relatore Marco Morelli, pp. 80. [Master's Degree Thesis]
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Abstract/Index
The rise of ESG in real estate investment. Literature review. Real estate as an investment asset. Real estate investment trusts (REITs). ESG in the context of real estate and REITs. ESG and REIT financial performance. Hypotheses development. Methodology. Research design. Data sources. Sample selection. Variable construction. Empirical model. Robustness checks. Software and implementation. Analysis. Descriptive statistics—big sample. Impact of total ESG scores on REIT returns—big sample. Impact of individual E, S, and G scores on REIT returns—big sample. Descriptive statistics—10 year subsample. Impact of lagged total ESG scores on REIT returns—10 year sample. Impact of lagged individual E, S, and G scores on REIT returns—10 year sample. Overall ESG score and returns. Pillar effects: environmental, social, governance. Lagged vs contemporaneous effects.
References
Bibliografia: pp. 66-75.
| Thesis Type: | Master's Degree Thesis |
|---|---|
| Institution: | Luiss Guido Carli |
| Degree Program: | Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77) |
| Chair: | Equity markets and alternative investments |
| Thesis Supervisor: | Morelli, Marco |
| Thesis Co-Supervisor: | Morelli, Giacomo |
| Academic Year: | 2024/2025 |
| Session: | Autumn |
| Deposited by: | Alessandro Perfetti |
| Date Deposited: | 17 Mar 2026 08:05 |
| Last Modified: | 17 Mar 2026 08:05 |
| URI: | https://tesi.luiss.it/id/eprint/45108 |
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