Timothy Riddiough

Publications

 

RESEARCH PUBLISHED IN ACADEMIC JOURNALS

1. ”Monopoly and Information Advantage in the Residential Mortgage Market," with Jie Gan, forthcoming, Review of Financial Studies, 2007.

2. “Theory and Evidence on The Resolution of Financial Distress,” with David Brown and Brian Ciochetti, Review of Financial Studies, Winter 2006 (Vol. 19, pp. 1357-1397).

3. “Finance, Investment, and Investment Performance: Evidence from the REIT Sector,” with Steve Ott and Ha-Chin Yi, Real Estate Economics, Spring 2005 (Vol. 33, pp. 203-235) [Abstracted in 2006 PREA Research Review].

4. “Privately versus Publicly Held Asset Investment Performance,” with Mark Moriarty and P.J. Yeatman, Real Estate Economics, Spring 2005 (Vol. 33, pp. 121-146) [Abstracted in 2006 PREA Research Review.]

5. “Effects of Noise on Optimal Exercise Decisions: The Case of Risky Debt Secured by Renewable Lease Income,” with Paul Childs and Steve Ott, Journal of Real Estate Finance and Economics, March 2004 (Vol. 28, pp.109-121).

6. “Financing Choice and Liability Structure of Real Estate Investment Trusts,” with David Brown, Real Estate Economics, Fall 2003 (Vol. 31, pp. 313-346) [Abstracted in 2004 PREA Research Review].

7. “Optimal Valuation of Noisy Real Assets,” with Paul Childs and Steve Ott, Real Estate Economics, Fall, 2002 (Vol. 30, pp.385-414) [Winner of Edwin S. Mills Paper of the Year Award, Abstracted in 2003 PREA Research Review.]

8. “Optimal Valuation of Claims on Noisy Real Assets: Theory and an Application,” with Paul Childs and Steve Ott, Real Estate Economics, Fall, 2002 (Vol. 30, pp. 415-443) [Abstracted in 2003 PREA Research Review].

9. “Valuation and Information Acquisition For Claims on Noisy Real Assets,” with Paul Childs and Steve Ott, Financial Management, Summer, 2001 (Vol. 30, pp. 45-75).

10. "The Role of Uncertainty in Investment: An Examination of Competing Investment Models Using Commercial Real Estate Data," with Steve Holland and Steve Ott, Real Estate Economics., Spring, 2000 (Vol. 28, pp. 33-64).

11. “Debt and Development,” Journal of Urban Economics, December, 1997 (Vol. 42, pp. 313-338).

12. “Optimal Design and Governance of Asset-Backed Securities,” Journal of Financial Intermediation, April, 1997 (Vol. 6, pp. 121-152).

13. "Bias in the Empirical Approach To Determining Risky Bond and Mortgage Premiums," with Paul Childs and Steve Ott, Journal of Real Estate Finance and Economics, May, 1997 (Vol. 14, pp. 263-282).

14. "The Economic Consequences of Regulatory Taking Risk on Land Value and Development Activity," Journal of Urban Economics, January, 1997 (Vol. 41, pp. 56-77) [Abstracted in The International Library of Environmental Economics and Policy.].

15. "The Pricing of Multi-Class Commercial Mortgage-Backed Securities," with Paul Childs and Steve Ott, Journal of Financial and Quantitative Analysis, December, 1996 (Vol. 31, pp. 581-603) [Abstracted in the CFA Digest.]

16. "Mixed-Uses and the Redevelopment Option," with Paul D. Childs and Alexander J. Triantis, Real Estate Economics, Fall, 1996 (Vol. 24, pp. 317-339).

17. "Valuing Debt in a Complex Capital Structure," with Howard E. Thompson, Review of Quantitative Finance and Accounting, May, 1996 (Vol. 6, pp. 203-221).

18. "The Value of Recourse and Cross-Default Clauses in Commercial Mortgage Contracting," with Paul D. Childs and Steven H. Ott, Journal of Banking and Finance, April, 1996 (Vol. 20, pp. 511-536).

19. "Insights on the Effect of Land Use Choice: The Perpetual Option on the Best of Two Underlying Assets," with David Geltner and Srdjan Stojanovic, Journal of Urban Economics, January, 1996 (Vol. 39, pp. 20-50).

20. “Residential Mortgage Choice: Does the Supply Side Matter?,” with Steven T. Jones and Norman G. Miller, Journal of Housing Economics, March, 1995 (Vol. 4, pp. 71-90).

21. "Wimp or Tough Guy: Sequential Default Risk and Signaling With Mortgages," with Steve B. Wyatt, Journal of Real Estate Finance and Economics, Special Issue on Information and Screening in Real Estate Finance, November, 1994 (Vol. 9, pp. 299-321) [Also published in a Conference Proceedings by the Federal Reserve Bank of Philadelphia.]

22. "Strategic Default, Workout and Commercial Mortgage Valuation," with Steve Wyatt, Journal of Real Estate Finance and Economics, July, 1994 (Vol. 9, pp. 5-22).

23. "Commercial Mortgage Default Pricing With Unobservable Borrower Default Costs," with Howard E. Thompson, AREUEA Journal, Fall, 1993 (Vol. 21, pp. 265-291).

24. "On the Use of Auctions as a Disposition Strategy for RTC Real Estate Assets: A Policy Perspective," with Kerry D. Vandell, Housing Policy Debate, March, 1992 (Vol. 3, pp. 117-141).

25. "The Impact of RTC Dispositions on Local Housing and Real Estate Markets," with Kerry D. Vandell, Housing Policy Debate, January, 1991 (Vol. 2, pp. 49-92).

OTHER PUBLISHED RESEARCH AND ARTICLES

1. “Optimal Capital Structure and the Market for Outside Finance in Commercial Real Estate,” Real Estate Finance, October 2004. [Abstracted in 2006 South African Property Research Yearbook.]

2. “Seven Reasons Why Real Estate Prices Will Hold Up For Now (But Five Reasons Why You Should Sit Up Straight and Pay Close Attention),” PREA Quarterly, Summer 2004.

3. “Theory and Evidence on the Resolution of Financial Distress,” Real Estate Research Institute Working Paper Series, with David Brown and Brian Ciochetti, Spring 2004.

4. “Commercial Real Estate in the Institutional Investment Portfolio: A Great Idea Fraught with Hard Realities,” Real Estate Finance, October 2002. [Abstracted in 2003 PREA Research Review.]

5. “Determinants of Commercial Mortgage Choice,” Real Estate Finance, Summer 200. Also published in Transact 2000, sponsored by the National Association of Realtors, September 2000, and by the Department of Housing and Urban Development, Office of Policy Development and Research.

6. “Forces Changing Real Estate for at Least a Little While: Market Structure and Growth Prospects of the Conduit-CMBS Market,” Real Estate Finance, Spring 2000.

7. “A Postmortem on Mortgage REITs,” CMBS World, Fall 1999.

8. “Unsecured Debt and REIT Capital Structure,” Real Estate Research Institute Working Paper Series, Spring 1998.

9. “Leasing Risk, Financing Risk and Capital Structure Decisions,” Real Estate Research Institute Working Paper Series, with Paul Childs and Steve Ott, Spring 1997.

10. “Foreclosure Loss and the Foreclosure Process: An Examination of Commercial Mortgage Performance,” 1997, Real Estate Research Institute Working Paper Series, with Brian Ciochetti, Spring 1997.

11. “Understanding Commercial Mortgage Securitization and its Impact on Debt Financing for Retail Centers,” Journal of Shopping Center Research, with Brian Ciochetti, Fall/Winter 1996.

12. “Property Diversification, Risk and Return in CMBS Investment,” Real Estate Research Institute Working Paper Series, with Paul Childs and Steve Ott, Spring 1996.

13. “Replicating and Hedging Real Estate Risk,” Real Estate Finance, Fall 1995.

14. “Uncertainty and the Rate of Commercial Real Estate Development,” Real Estate Research Institute Working Paper Series, with Steve Holland and Steve Ott, Spring 1995.

15. “Incentive Issues and the Performance of Participating Mortgages,” Real Estate Research Institute Working Paper Series, Spring 1994.

16. “Economics of Office Design,” Urban Land Institute Working Paper Series, with Kerry D. Vandell and Jonathon Lane, Fall 1992.

RESEARCH UNDER REVIEW and WORKING PAPERS

1. “The Market Structure of Structured Finance,” reviewed and under revision.

2. “Strategic Investment and Regulation in Urban Land Markets,” working paper.

3. “A Generalized Sharecropping Model of Retail Lease Contracting and Licensing Agreements,” with Joe Williams, working paper.

4. “Financial Constraints, External-Source Liquidity, and Investment,” with Zhonghua Wu, working paper.