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The effect of appraiser rotation : Dutch institutional investors’ experience (2015)
Journal Article
van der Werf, Y., & Huibers, F. (2015). The effect of appraiser rotation : Dutch institutional investors’ experience

Institutional investors experience a large valuation gap when they change appraiser on their investment properties compared to months or quarters when there is no change of appraiser. We find that appraiser rotation leads to a significant effec... Read More about The effect of appraiser rotation : Dutch institutional investors’ experience.

Value premium in international REITs (2014)
Journal Article
van der Werf, Y. M., & Huibers, F. (2014). Value premium in international REITs

We find evidence of a value premium of 10.3 per cent per annum for international developed REITs over the period Q2-1993-Q2-2013. REITs with a high book value of equity compared to their market value of equity (in case of REITs book value of equity i... Read More about Value premium in international REITs.

The management of the UK's public fishery: A large squatting claim?
Working Paper
Appleby, T., van der Werf, Y., & Williams, C. (2016). The management of the UK's public fishery: A large squatting claim?

The UK’s fishery is a public asset worth in the region of £1,125 million. The free allocation of quota to commercial businesses on the basis of 2 years’ track record is a similar process to permitting that public asset to be squatted. The complex a... Read More about The management of the UK's public fishery: A large squatting claim?.