Tjeerd Boonman, Ph.D., specialist professor of finance and economics in the Leon Hess Business School, won the Best Paper Award in the 2022 annual conference of the Northeast Business & Economics Association (NBEA). The 49th NBEA Conference was held Nov. 10-12 in Portsmouth, New Hampshire. There were roughly 100 papers that were submitted to the conference. The best paper is subjected to a double-blind review.
Boonman received a certificate and cash award for the paper, “Drivers of U.S. REIT Returns and its Volatility: A Bayesian Model Averaging Approach,” which was co-authored with Vivek Sah, Ph.D., director of the Franklin L. Burns School of Real Estate & Construction Management in the Daniels College of Business at the University of Denver. In the paper Boonman uses a machine learning technique to identify which are robust determinants of the returns and the volatility of the returns on U.S. office REITs. Boonman said the main findings of the paper can be useful for investors and policy makers.