I am an assistant professor in the Finance Department of the Kelley School of Business, at Indiana University.

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E-mail: tobias_dot_muhlhofer_at_gmail_dot_com

Contact:

Kelley School of Business
Indiana University
Finance Department, BU 356
1309 E 10th St.
Bloomington, IN 47405
USA
Tel: +1-812-855-9270

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Here is a link to my CV.

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My research interests lie in real estate finance, as well as in empirical asset pricing.


Papers:

• 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. Forthcoming at Real Estate Economics.

• They Would if They Could: Assessing the Bindingness of the Property Holding Constraints for REITs. This draft, August 2011. Conditionally accepted at Real Estate Economics.

• Do Stock Prices Move too Much to be Justified by Changes in Cash Flows? New Evidence from Parallel Asset Markets. This draft, July 2012, joint with Andrey Ukhov. Revise and Resubmit, Journal of Financial and Quantitative Analysis.

• Market Timing and Investment Selection: Evidence from Real Estate Investors. This draft, December 2012, joint with Yael Hochberg.

• Using Cash Flow Dynamics to Price Thinly Traded Assets: The Case of Commercial Real Estate. This draft, April 2013, joint with Wally Boudry, Crocker Liu, and Walt Tourous.

• Trading Constraints and the Investment Value of Real Estate Investment Trusts: An Empirical Examination. Doctoral thesis, London School of Economics.

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Teaching:

• F303: Investments, Indiana University.

• R510: Real Estate Investment Analys, Indiana University.