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Prof. Dr. Felix Schindler [ D ]
Prof. Dr. Felix Schindler

Tel:  +49 (0)621 1235-142
Fax: +49 (0)621 1235-223


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Prof. Dr. Felix Schindler

Prof. Dr. Felix Schindler was a senior researcher of the research department "International Finance and Financial Management" at the Centre for European Economic Research (ZEW). His main fields of research were real estate markets, real estate economics, real estate finance and investment as well as portfolio management, asset allocation and savings behaviour.

Since January 2013, he has been working for the BHF-Bank and is a research associate at the ZEW. He closely cooperates with the research department "International Finance and Financial Management" and is a member of the research network "Real Estate Markets and Capital Markets" (ReCapNet). Furthermore, Prof. Dr. Felix Schindler is professor for real estate finance and economics at the Center for Real Estate Studies (CRES) at the Steinbeis University Berlin (SHB).

Selected Publications

Publications in refereed Journals

Schindler, Felix (forthcoming), Persistence and Predictability in UK House Price Movements, Journal of Real Estate Finance and Economics.

Schindler, Felix (2013), Predictability and Persistence of the Price Movements of the S&P/Case-Shiller House Price Indices, Journal of Real Estate Finance and Economics 46(1), 44-90.

Rehkugler, Heinz, Felix Schindler and Rafael Zajonz (2012), The Net Asset Value and Stock Prices of European Real Estate Companies – Explaining Net Asset Value Spreads by an Empirical Model –, Zeitschrift für Betriebswirtschaft (ZfB) 82, Special Issue 1-2012, 53-77.

Kröncke, Tim-Alexander and Felix Schindler (2012), International Diversification with Securitized Real Estate and the Veiling Glare from Currency Risk, Journal of International Money and Finance 31(7), 1851-1866.

Rehkugler, Heinz and Felix Schindler (2012), Neue Regulierungen für die Finanzwirtschaft – Mögliche Auswirkungen von Solvency II und Basel III für die Attraktivität von Immobilienanlagen und die Immobilienfinanzierung, Betriebswirtschaftliche Forschung und Praxis (BFuP) 2/2012, 105-120.

Schindler, Felix (2011), Market Efficiency and Return Predictability in the Emerging Securitized Real Estate Markets, Journal of Real Estate Literature 19(1), 111-150.

Schindler, Felix (2011), Long-Term Benefits from Investing in International Securitized Real Estate, International Real Estate Review 14(1), 27-60.

Füss, Roland and Felix Schindler (2011), Diversifikationsvorteile verbriefter Immobilienanlagen in einem Mixed-Asset-Portfolio, Perspektiven der Wirtschaftspolitik 12(2), 170-191.

Kröncke, Tim-Alexander and Felix Schindler (2010), Downside Risk Optimization in Securitized Real Estate Markets, Journal of Property Investment & Finance 28(6), 434-453.

Schindler, Felix, Nico Rottke and Roland Füss (2010), Testing the Predictability and Efficiency of Securitized Real Estate Markets, Journal of Real Estate Portfolio Management 16(2), 171-191.

Schindler, Felix (2010), Spillover Effects between International Real Estate Stock Markets, Journal of Interdisciplinary Property Research (Zeitschrift für Immobilienökonomie) 1/2010, 5-25.

Schindler, Felix (2009), Correlation Structure of Real Estate Markets over Time, Journal of Property Investment & Finance 27(6), 579-592.

Schindler, Felix (2009), Long-Term Benefits from Investing in Asia-Pacific Real Estate, Pacific Rim Property Research Journal 15(3), 335-357.

Publications in Journals

Schindler, Felix (2012), Globale Immobilienanlagen als attraktive Beimischung im Portfolio, UBS Real Estate Focus 2012, 35-36.

Schindler, Felix (2012), Rendite vs. Risiko - Most Wanted, Patrizia Estatements Magazin 01/2012, 16-19.

Rehkugler, Heinz and Felix Schindler (2005), Investment Property – Anwendungshinweis für die Praxis (IAS 40), Accounting 5, 5-8.

Monographs, Articles in Anthologies

Schindler, Felix and Peter Winker (2012), Nichtstationarität und Kointegration, in: Michael Schröder, Finanzmarkt-Ökonometrie, 2. Auflage, Stuttgart, 227-266.

Schindler, Felix, Tim-Alexander Kröncke, Paul Gans and Rüdiger Meng (2012), Wohnungsmarktbeobachtung Baden-Württemberg 2011. Download

Kröncke, Tim-Alexander, Felix Schindler and Peter Westerheide (2011), Finanzierungsstrategien wohnungswirtschaftlicher Akteure unter veränderten Rahmenbedingungen auf den Finanzierungsmärkten, BMVBS-Online-Publikation Bd. 4/11. Download

Demary, Markus, Johannes Köndgen, Felix Schindler, Michael Voigtländer and Peter Westerheide (2010), A European Internal Market for Housing Finance, Schriftenreihe des Instituts für Städtebau, Wohnungswirtschaft und Bausparwesen Bd. 74, Berlin.

Demary, Markus, Johannes Köndgen, Felix Schindler, Michael Voigtländer and Peter Westerheide (2010), Ein europäischer Binnenmarkt für die Wohnungsbaufinanzierung, Schriftenreihe des Instituts für Städtebau, Wohnungswirtschaft und Bausparwesen Bd. 73, Berlin.

Schindler, Felix (2009), Immobilienaktienmärkte - Eine globale Analyse ihres Kapitalmarktverhaltens, Portfoliomanagement Bd. 24, Uhlenbruch, Bad Soden/Taunus.

Schindler, Felix and Heinz Rehkugler (2009), Risikoeffekte von REIT-Neuemissionen, in: Rehkugler, H., Die Immobilie als Kapitalmarktprodukt, 285-312.

Rehkugler, Heinz and Felix Schindler (2008), IPO-Verhalten von Immobilienunternehmen, in: Oehler, A.; Terstege, U., Finanzierung, Investition und Entscheidung – Festschrift für Michael Bitz, Wien und New York, 277-294.

Discussion Papers and Working Papers

Liow, Kim Hiang and Felix Schindler (2011), Are Public Real Estate Markets and Stock Markets Linked at the Local, Regional and Global Levels?, NUS-IRES Working Paper Series 2011-006, Singapur. Download

Kröncke, Tim-Alexander, Felix Schindler and Andreas Schrimpf (2011), International Diversification Benefits with Foreign Exchange Investment Styles, CREATES Research Paper 2011-10, Aarhus. Download

Liow, Kim Hiang and Felix Schindler (2011), An Assessment of the Relationship Between Public Real Estate Markets and Stock Markets at the Local, Regional, and Global Levels, ZEW Discussion Paper No. 11-056, Mannheim. Download

Kröncke, Tim-Alexander, Felix Schindler and Andreas Schrimpf (2011), International Diversification Benefits with Foreign Exchange Investment Styles, ZEW Discussion Paper No. 11-028, Mannheim. Download

Kurzrock, Björn-Martin, Frieder Mokinski, Felix Schindler and Peter Westerheide (2011), Do Residential Property Companies Systematically Adjust Their Capital Structure? The Case of Germany, ZEW Discussion Paper No. 11-014, Mannheim. Download

Kröncke, Tim-Alexander and Felix Schindler (2011), International Diversification with Securitized Real Estate and the Veiling Glare from Currency Risk, ZEW Discussion Paper No. 11-012, Mannheim. Download

Schindler, Felix and Svitlana Voronkova (2010), Linkages between International Securitized Real Estate Markets: Further Evidence from Time-Varying and Stochastic Cointegration, ZEW Discussion Paper No. 10-051, Mannheim. Download

Kröncke, Tim-Alexander and Felix Schindler (2010), Downside Risk Optimization in Securitized Real Estate Markets, ZEW Discussion Paper No. 10-034, Mannheim. Download

Schindler, Felix (2010), Market Efficiency in the Emerging Securitized Real Estate Markets, ZEW Discussion Paper No. 10-033, Mannheim. Download

Schindler, Felix (2010), How Efficient is the U.K. Housing Market?, ZEW Discussion Paper No. 10-030, Mannheim. Download

Schindler, Felix (2010), Further Evidence on the (In-) Efficiency of the U.S. Housing Market, ZEW Discussion Paper No. 10-004, Mannheim. Download

Schindler, Felix, Nico Rottke and Roland Füss (2009), Testing the Predictability and Efficiency of Securitized Real Estate Markets, ZEW Discussion Paper No. 09-054, Mannheim. Download

Schindler, Felix (2009), Volatilitätseffekte am US-amerikanischen Häusermarkt, ZEW Discussion Paper No. 09-048, Mannheim. Download

Schindler, Felix (2009), Long-term Benefits from Investing in International Real Estate, ZEW Discussion Paper No. 09-023, Mannheim. Download

Expertises

Busl, Claudia, Zwetelina Iliewa, Sabine Jokisch, Marcus Kappler, Thomas Roscher, Felix Schindler and Frauke Schleer (2012), Sparen und Investieren vor dem Hintergrund des demografischen Wandels, Bundesministerium der Finanzen, Berlin. Download

Kappler, Marcus, Tim-Alexander Kröncke, Felix Schindler, Frauke Schleer, Atilim Seymen and Peter Westerheide (2011), Housing Markets and Intra-Euro Area Macroeconomic Imbalances: Identifying Policy Instruments, European Commission - Directorate General for Economic and Financial Affairs (DG ECFIN), Mannheim.

Prices, awards and distinctions

2011: BlackRock Research Award,
Institute of Global Finance, Sydney, AU,
School of Banking & Finance at Australian School of Business at UNSW, Sydney, AU

2011: Best Conference Paper Award,
Pacific Rim Real Estate Society (PRRES), Brisbane, AU

2010: Best Conference Paper Award,
Pacific Rim Real Estate Society (PRRES), Brisbane, AU

2009: Förderpreis der Deutschen Immobilien Akademie (DIA),
Dissertation,
Albert-Ludwigs-Universität Freiburg

2009: Aareal Award of Excellence in Real Estate Research,
Dissertation,
European Business School - International University Schloss Reichartshausen, Oestrich-Winkel

Research Stays

11.-12.2011: National University of Singapore (NUS), SG, Real Estate Department

12.2010: University of Cincinnati, US

07.2010: National University of Singapore (NUS), SG, Real Estate Department

Research Affiliations

2010 - 2012: Assistant Professorship,
Steinbeis University Berlin

Organisation of academic conferences and workshops

Conference, 4th ReCapNet Conference: Real Estate Markets and Capital Markets,
Mannheim, Germany, 2012

Conference, Third ReCapNet Conference: Real Estate Markets and Capital Markets,
Mannheim, Germany, 2011

Prof. Dr. Felix Schindler, Dr. Peter Westerheide,
Workshop, Spring Workshop ReCapNet 2011,
Dresden, Germany, 2011

Dr. Peter Westerheide, Prof. Dr. Felix Schindler,
Conference, Second ReCapNet Conference: Real Estate Markets and Capital Markets,
ZEW Mannheim, Germany, 2010

Dr. Peter Westerheide, Prof. Dr. Felix Schindler,
Workshop, Spring Workshop ReCapNet 2010,
ZEW Mannheim, Germany, 2010

Prof. Dr. Felix Schindler, Dr. Peter Westerheide,
Conference, 1st ReCapNet Conference: Real Estate Markets and Capital Markets,
Mannheim, Germany, 2009

Prof. Dr. Felix Schindler, Dr. Peter Westerheide,
Workshop, Spring Workshop ReCapNet 2009,
Mannheim, Germany, 2009

Lectures

2012: International Diversification Benefits from Foreign Exchange Investment Styles,
Jahrestagung des Vereins für Socialpolitik 2012,
Göttingen, Germany

2012: The Sources of Risk Spillovers among REITs: Asset Similarities and Regional Proximity,
MIT-NUS-Maastricht Real Estate Finance and Investment Symposium 2012,
Singapur, Republic of Singapore

2012: The Sources of Risk Spillovers among REITs: Asset Similarities and Regional Proximity,
19th European Real Estate Society Conference,
Edinburgh, United Kingdom

2011: International Diversifiation Benefits with Foreign Exchange Investment Styles,
The 24th Australasian Banking and Finance Conference,
Sydney, Australia

2011: Housing Cycles, Business Cycles, and the Cross-Section of Stock Returns,
NUS DRE-IRES Joint Real Estate Research Seminar,
Singapur, Republic of Singapore

2011: International Diversification with Securitized Real Estate Markets and the Veiling Glare from Currency Risk,
18. DGF-Jahrestagung,
Regensburg, Germany

2011: International Diversification with Securitized Real Estate Markets and the Veiling Glare from Currency Risk,
Jahrestagung des Vereins für Socialpolitik 2011,
Frankfurt am Main, Germany

2011: International Diversification with Securitized Real Estate Markets and the Veiling Glare from Currency Risk,
2011 Asia-Pacific Real Estate Research Symposium,
Adelaide, Australia

2011: International Diversification with Securitized Real Estate Markets and the Veiling Glare from Currency Risk,
American Real Estate Society Conference,
Seattle, United States of America (USA)

2011: International Diversification with Securitized Real Estate Markets and the Veiling Glare from Currency Risk,
Pacific Rim Real Estate Society Conference,
Gold Coast, Australia

2010: Market Efficiency in Emerging Securitized Real Estate Markets,
1st MENARES Conference,
Dubai, United Arab Emirates

2010: Testing the Predictability and Efficiency of Securitized Real Estate Markets,
2010 Asia Pacific Real Estate Research Symposium,
Hong Kong, China - People's Republic

2010: Market Efficiency in Emerging Securitized Real Estate Markets,
17th European Real Estate Society Conference,
Mailand, Italy

2010: Testing the Predictability and Efficiency of Securitized Real Estate Markets,
American Real Estate and Urban Economics Association - International Meeting,
Rotterdam, Netherlands

2010: Performance of Real Estate Private Equity Funds,
2nd ReCapNet Workshop,
ZEW Mannheim, Germany

2010: Testing the Predictability and Efficiency of Securitized Real Estate Markets,
American Real Estate Society Conference,
Naples, United States of America (USA)

2010: Testing the Predictability and Efficiency of Securitized Real Estate Markets,
Pacific Rim Real Estate Society Conference,
Wellington, New Zealand

2009: Co-Movements in International Real Estate Stock Markets,
1st ReCapNet Conference: Real Estate Markets and Capital Markets (1035),
ZEW Mannheim, Germany

Teaching activities and stand-in professors

11.2012: Lecture "Finanzmanagement im Gesundheitswesen",
Albert-Ludwigs-Universität Freiburg

09.2012: Lecture "Corporate Finance",
Steinbeis University Berlin

01.2012: Lecture "Portfoliotheorie und deren Anwendung auf die Investitionsstrategie",
HWZ Hochschule für Wirtschaft Zürich , CH

WS 2012/2013: Lecture and tutorial "Kursprognose und angewandte Asset Allocation",
University of Regensburg

SS 2012: Lecture "Kursprognose und angewandte Asset Allocation",
University of Regensburg

11.2011: Lecture "Real Estate Finance",
Steinbeis University Berlin

11.2011: Lecture "Finanzmanagement im Gesundheitswesen",
Albert-Ludwigs-Universität Freiburg
Freiburg Academy of Continuing Education (FRAUW)

02.2011: Lecture "Portfoliotheorie und deren Anwendung auf die Investitionsstrategie",
HWZ Hochschule für Wirtschaft Zürich , CH

11.2010: Lecture "Finanzmanagement im Gesundheitswesen",
Albert-Ludwigs-Universität Freiburg
Freiburg Academy of Continuing Education (FRAUW)

06.2010: Lecture "Finanzmanagement im Gesundheitswesen",
Akademie für wissenschaftliche Weiterbildung e. V. an der Albert-Ludwigs-Universität Freiburg

01.2010: Lecture "Portfoliotheorie und deren Anwendung auf die Investitionsstrategie",
HWZ Hochschule für Wirtschaft Zürich , CH

Events

Seminars

14.09 - 18.11.2011
Strengthening Macroeconomic Policies (MPS+)

13.09 - 19.11.2010
Strengthening Macroeconomic Policies (MPS+)

Publishing activities for journals/series

2010 - 2012: Co-editor,
Zeitschrift für Immobilienökonomie (ZIÖ)

Referee-reports for scientific journals, public trusts etc.

11.2012: 16th Conference of the Swiss Society for Financial Market Research (SGF Conference)

10.2012: Journal "Real Estate Economics"

08.2012: 4th Real Estate and Capital Markets Conference (ReCapNet)

06.2012: 19th Annual Meeting of the German Finance Association (DGF)

06.2012: 2012 Joint AsRES-AREUEA Conference

03.2012: Journal "Zeitschrift für Immobilienökonomie (ZIÖ)"

02.2012: Journal "International Journal of Strategic Property Management"

12.2011: Journal "Focus on European Economic Integration"

09.2011: The 2012 Society for Financial Studies Cavalcade

08.2011: 3rd Real Estate and Capital Markets Conference (ReCapNet)

08.2011: gif Immobilien-Forschungspreis 2011

05.2011: 18th Annual Meeting of the German Finance Association (DGF)

04.2011: Journal "Zeitschrift für Immobilienökonomie (ZIÖ)"

02.2011: Journal "Emerging Markets Finance and Trade"

08.2010: 2nd Real Estate and Capital Markets Conference (ReCapNet)

02.2010: Journal "Zeitschrift für Immobilienökonomie (ZIÖ)"

01.2010: Journal "The Journal of Real Estate Finance and Economics"

01.2010: Journal "Jahrbücher für Nationalökonomie und Statistik"

08.2009: 1st Real Estate and Capital Markets Conference (ReCapNet)

Statements/contributions to hearings

11.2012: Public hearing,
Aktuelle Entwicklungen des Wohnungsmarktes in Baden-Württemberg und Ulm,
Ulm, Germany

04.2012: Statement,
The Privately Rented Sector in Scotland,
Edinburgh, United Kingdom

01.2012: Expert hearing,
Anhörung der Enquetekommission I "Wohnungswirtschaftlicher Wandel und neue Finanzinvestoren auf den Wohnungsmärkten in NRW" des Landtags von Nordrhein-Westfalen,
Düsseldorf, Germany

Memberships

2012: European Real Estate Society, Amsterdam, NL

2011 - 2012: German Economic Association (Verein für Socialpolitik), Frankfurt am Main

2010 - 2011: Pacific Rim Real Estate Society (PRRES), Brisbane, AU

2010 - 2011: American Real Estate and Urban Economics Association (AREUEA), Richmond, Virginia, US

2010 - 2011: American Real Estate Society (ARES), Clemson, US

2010: European Real Estate Society, Amsterdam, NL

Projects

Current Projects

Identifying the long term risk and return relationship between listed real estate and direct real estate investments

Finished Projects

A single European market for financing residential real estate

Counselling Financial Market Econometrics

Financing strategies of housing market agents under new conditions on financial markets

Housing Markets and Intra-euro area Macroeconomic Imbalances: Identifying Policy Instruments

Housing Markets Observatory Baden-Wuerttemberg

Housing Markets Observatory Baden-Wuerttemberg 2011

Leibniz Network "Real Estate Markets and Capital Markets"

Saving and Investment against the background of the demographic change

SEEK-Project 2011: Private Funding of Higher Education – Human Capital as an Asset Class

ZEW/gif-Office Market Forecast


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