Essec\Faculty\Model\Contribution {#2233
  #_index: "academ_contributions"
  #_id: "8305"
  #_source: array:26 [
    "id" => "8305"
    "slug" => "optimal-holding-period-for-a-real-estate-portfolio"
    "yearMonth" => "2007-04"
    "year" => "2007"
    "title" => "Optimal Holding Period for a Real Estate Portfolio"
    "description" => "BARONI, M., BARTHELEMY, F. et MOKRANE, M. (2007). <i>Optimal Holding Period for a Real Estate Portfolio</i>. ESSEC Business School."
    "authors" => array:3 [
      0 => array:3 [
        "name" => "BARONI Michel"
        "bid" => "B00000023"
        "slug" => "baroni-michel"
      ]
      1 => array:2 [
        "name" => "BARTHELEMY Fabrice"
        "bid" => "B00006901"
      ]
      2 => array:1 [
        "name" => "MOKRANE M."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:3 [
      0 => "Durée de détention"
      1 => "Gestion de portefeuille immobilier"
      2 => "Simulations de cash-flows"
    ]
    "updatedAt" => "2020-12-17 21:00:33"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => null
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Documents de travail"
      "en" => "Working Papers"
    ]
    "support_type" => array:2 [
      "fr" => "Editeur"
      "en" => "Publisher"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Ce papier rend compte de l'usage de cash-flows simulés pour déterminer la période de détention optimale d'un portefeuille immobilier pour en maximiser la valeur actuelle. L'approche DCF traditionnelle qui estime la valeur de revente par un taux de croissance à l'infini du dernier cash-flow ne permet pas de dégager un tel optimum. En revanche, si la valeur terminale est calculée à partir de la tendance d'un processus de diffusion du prix, un optimum peut apparaître sous certaines conditions. De plus, le document comprend l'étude de la sensibilité de la valeur actuelle du portefeuille aux différents paramètres intervenant dans l'estimation des cash-flows."
      "en" => "This paper considers the use of simulated cash flows to determine the optimal holding period of a real estate portfolio to maximize its present value. The traditional DCF approach with an estimation of the resale value through a growth rate of the future cash flow does not let appear this optimum. However, if the terminal value is calculated from the trend of a diffusion process of the price, an optimum may appear under certain conditions. Finally we consider the sensitivity of the present value to the different parameters involved in the cash flow estimations."
    ]
    "authors_fields" => array:2 [
      "fr" => "Systèmes d'Information, Data Analytics et Opérations"
      "en" => "Information Systems, Data Analytics and Operations"
    ]
    "indexedAt" => "2024-12-21T18:21:44.000Z"
    "docTitle" => "Optimal Holding Period for a Real Estate Portfolio"
    "docSurtitle" => "Documents de travail"
    "authorNames" => "<a href="/cv/baroni-michel">BARONI Michel</a>, BARTHELEMY Fabrice, MOKRANE M."
    "docDescription" => "<span class="document-property-authors">BARONI Michel, BARTHELEMY Fabrice, MOKRANE M.</span><br><span class="document-property-authors_fields">Systèmes d'Information, Data Analytics et Opérations</span> | <span class="document-property-year">2007</span>"
    "keywordList" => "<a href="#">Durée de détention</a>, <a href="#">Gestion de portefeuille immobilier</a>, <a href="#">Simulations de cash-flows</a>"
    "docPreview" => "<b>Optimal Holding Period for a Real Estate Portfolio</b><br><span>2007-04 | Documents de travail </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">Optimal Holding Period for a Real Estate Portfolio</a>"
  ]
  +lang: "fr"
  +"_type": "_doc"
  +"_score": 8.664785
  +"parent": null
}