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Dr Masaki Mori

Dr Masaki Mori

Qualification(s)

Doctor of Philosophy in Business Administration, Real Estate, Georgia State University, U.S.A
Bachelor of Arts, Political Management, Keio University, Japan

Function

Associate Professor

Teaching Subject(s)

Real Estate Finance
Valuation of Hotel Investments

Area(s) of Expertise

Behavioral research
Conspicuous consumption and housing market
Investment strategies and risk management
Real estate investment trusts (REITs)

Short Bio

Dr. Mori has international educational and research experience in Real Estate Finance and Investment in Japan, U.S., Singapore, U.K., and Switzerland. Masaki Mori is constantly ranked as one of the world academic leaders in the area of Real Estate. Prior to joining Ecole hôtelière de Lausanne, Masaki Mori was manager at Nomura Asset Management, Associate Professor of Finance at International University of Japan, Assistant Professor at National University of Singapore, and Associate Professor of Real Estate Finance and Investment at University of Reading. He also served as Associate Dean of Graduate School of International Management of IUJ and Program Director of Master in Real Estate Finance at Reading. He has taught Real Estate and Finance courses such as Real Estate Finance and Mortgage Banking, Investment, Portfolio Management, Derivatives Markets, and Debt Securities Markets for undergraduate and graduate students as well as for business professionals. He was awarded University-level and School-level teaching excellence awards at NUS. He is the recipient of a Fulbright Scholarship.

Publications in Peer-Reviewed Journals

Lee, K. O., & Mori, M. (Forthcoming). Conspicuous Consumption and Household Indebtedness. Real Estate Economics. https://doi.org/10.1111/1540-6229.12305

Li, Q., Ling, D. C., Mori, M., & Ong, S. E. (2020). The Wealth Effects of REIT Property Acquisitions and Dispositions: The Creditors’ Perspective. Journal of Real Estate Finance and Economics, 60, 308-337. https://doi.org/10.1007/s11146-018-9677-9

Ooi, J.T.L., Mori, M., & Wong, W.C. (2019). Rationale Behind IPO Underpricing: Evidence from Asian REIT IPOs. Real Estate Economics, 47(1), 104-137. https://doi.org/10.1111/1540-6229.12243

Tang, C. K., & Mori, M. (2017). Sponsor Ownership in Asian REITs. Journal of Real Estate Finance and Economics, 55(3), 265-287. https://doi.org/10.1007/s11146-016-9577-9

Lee, K. O., & Mori, M. (2016). Do Conspicuous Consumers Pay Higher Housing Premiums? Spatial and Temporal Variation in the United States. Real Estate Economics, 44(3), 726-763. https://doi.org/10.1111/1540-6229.12115

Tang, C. K., Mori, M., Ong, S. E., & Ooi, J. T. L. (2016). Debt Raising and Refinancing by Japanese REITs: Information Content in a Credit Crunch. Journal of Real Estate Finance and Economics, 53(2), 141-161. https://doi.org/10.1007/s11146-014-9459-y

Mori, M. (2015). Information Diffusion in the US Real Estate Investment Trust Market. Journal of Real Estate Finance and Economics, 51(2), 190-214. https://doi.org/10.1007/s11146-014-9464-1

Mori, M., Ooi, J. T. L., & Wong, W. C. (2014). Do Investor Demand and Market Timing Affect Convertible Debt Issuance Decisions by REITs?. Journal of Real Estate Finance and Economics, 49(4), 524-550. https://doi.org/10.1007/s11146-013-9443-y

Mori, M., & Ziobrowski, A. J. (2011). Performance of Pairs Trading Strategy in the U.S. REIT Market. Real Estate Economics, 39(3), 409-428. https://doi.org/10.1111/j.1540-6229.2010.00302.x

Mori, M., Diaz, J., Ziobrowski, A. J., & Rottke, N. B. (2010). Psychological and Cultural Factors in the Choice of Mortgage Products: A Behavioral Investigation. Journal of Behavioral Finance, 11(2), 82-91. https://doi.org/10.1080/15427560.2010.481981

Funded Research Projects

Masaki, M., Project: Securitization of Socially Beneficial Commercial Properties: Evidence from the Real Estate Investment Trust (REIT) market in Hong Kong. Masaki, M., Project: Influences of REITs with World-Class Infrastructure on Business Agglomeration and Productivity in Hong Kong. 2016-2017. External fundraising. Masaki, M., Project: Effects of REIT Ownership on Acquisition Premiums and Property Performance of Industrial Properties. 2015-2016. External fundraising: NUS-JTC I 3 Centre Research Grant Masaki, M., Project: Corporate Governance and Investor Attention: Evidence from Japanese REITs. 2012-2014. External fundraising: NUS. Masaki, M., Project: Information Diffusion in the U.S. REIT Market. 2011-2013. External fundraising: NUS. Masaki, M., Project: Proposal of Weather Derivatives for the Risk Management of Local Businesses. 2008-2009. External fundraising: Niigata Prefecture, Japan.

Awards

Real Estate Academic Leadership (REAL) Author Ranking: #24 out of 925 authors (Journal of Real Estate literature (2020), 28(2)) Real Estate Academic Leadership (REAL) Author Ranking: #22 out of 914 authors (Journal of Real Estate literature (2019), 27(2)) Real Estate Academic Leadership (REAL) Author Ranking: #23 out of 878 authors (Journal of Real Estate literature (2018), 26(2)) Real Estate Academic Leadership (REAL) Author Ranking: #34 out of 888 authors (Journal of Real Estate literature (2017), 25(2)) University Teaching Excellence Award 2014/2015, National University of Singapore (NUS) School Teaching Excellence Award 2015/2016, 2014/2015, 2013/2014 NUS Aareal Award of Excellence in Real Estate Research, Best Research Paper, awarded €4000 (with Ong, Seow Eng and Li, Qing), Real Estate Management Institute, Germany (2014) FULBRIGHT Graduate Study Award, The Japan-United States Educational Commission (2002-2006)