Research Article
Real Estate Asset Management Companies’ Economies of Scale: Is It a Dream or Reality? The Italian Case
Table 9
Coefficients resulting from the second regression.
| | Y = net fees | | Year | Regressor | Estimate | Std. error | t value | Pr () | Adjusted R2 |
| | 2013 | AUM | 0.5571 | 0.1033 | 5.393 | 1.35e − 05 | 0.9236 | | Administrative costs | 0.4427 | 0.1033 | 4.285 | 0.000238 | | Number of r.e. funds managed | — | — | — | — |
| | 2014 | AUM | 0.5242 | 0.1399 | 3.747 | 0.000945 | 0.8791 | | Administrative costs | 0.4480 | 0.1399 | 3.203 | 0.003693 | | Number of r.e. funds managed | — | — | — | — |
| | 2015 | AUM | 0.4835 | 0.1237 | 3.910 | 0.000625 | 0.9342 | | Administrative costs | 0.5063 | 0.1237 | 4.094 | 0.000389 | | Number of r.e. funds managed | — | — | — | — |
| | 2016 | AUM | 0.48515 | 0.08832 | 5.493 | 1.05e − 05 | 0.9532 | | Administrative costs | 0.52311 | 0.08832 | 5.923 | 3.50e − 06 | | Number of r.e. funds managed | — | — | — | — |
| | 2017 | AUM | — | — | — | — | 0.9483 | | Administrative costs | 0.97381 | 0.04641 | 20.983 | 6.0142e − 17 | | Number of r.e. funds managed | — | — | — | — |
| | 2018 | AUM | — | — | — | — | 0.9239 | | Administrative costs | 0.96284 | 0.05631 | 17.1 | 1.43e − 14 | | Number of r.e. funds managed | — | — | — | — |
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Signif. codes: 0.001; 0.01; 0.05. |
