On the Relationship between Market Sentiment and Commercial Real Estate Performance - A Textual Analysis Examination - University of Regensburg Publication Server

DOI to cite this document:: 10.5283/epub.45317

Beracha, Eli ; Lang, Marcel ; Hausler, Jochen

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Date of publication of this fulltext: 24 Mar 2021 10:42

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Abstract

We examine whether and the extent to which news-based sentiment, captured by textual analysis, can predict the performance of the private commercial real estate market in the United States. Our results show that sentiment reflected in news abstracts of The Wall Street Journal predicts returns of commercial real estate up to four quarters in advance. These findings are statistically significant ...