Abstract

There is an ongoing debate about the financial outcomes of investing in green properties and any associated considerations on operating measures of profitability and/or attractiveness of such investments. Building on preview literature, we investigate the impact of the level of greenness of a given REIT portfolio over time and the relationship with the investment horizon. Additionally, we analyzed the presence of women on the board and the association with the portfolio’s level of greenness.

This paper focus on two main questions such as: Does green property investment is characterized by a longer investment horizon? Statistically significant at 5% we found that larger the proportion to green investment in a REIT portfolio is, longer the duration of the investment will be. The second central question is associated with gender presence. Does the level of green percentage in a given REIT portfolio is positively associated with the presence of women on the board? Statistically significant at 5% we found that the presence of at least one woman on a board is positively associated with a higher presence of green investments in a portfolio.