Professor Bryan MacGregor

Professor Bryan MacGregor The University of Aberdeen Business School Vice Principal (League Tables and TRAC) work +44 (0)1224 272356 work +44 (0)1224 272081 pref b.d.macgregor@abdn.ac.uk

Vice Principal (League Tables and TRAC)

Personal Details Telephone: +44 (0)1224 272356 +44 (0)1224 272081 Email: b.d.macgregor@abdn.ac.uk

Publications

Working Papers and Discussion Papers

Working Papers

• MacGregor, BD., Hendershott, PH. & Hendershott, R. (2005). 'Evidence of rationality in commercial property markets: an interpretation and critique'.
• Hendershott, PH. & MacGregor, BD. (2003). 'Investor Rationality: Evidence from UK Property Capitalization Rates'.

Contributions to Journals

Articles

• MacGregor, BD., Nanthakumanran, N. & Orr, A. (2012). 'The Sensitivity of UK Commercial Property Values to Interest Rates Changes'. Journal of Property Research, vol 29, no. 2, pp. 123-151.
  [Online] DOI: 10.1080/09599916.2011.645861
• Hendershott, PH., Lizieri, CM. & MacGregor, BD. (2010). 'Asymmetric Adjustment in the City of London Office Market'. Journal of Real Estate Finance and Economics, vol 41, no. 1, pp. 80-101.
  [Online] DOI: 10.1007/s11146-009-9199-6
• Hoesli, MER., MacGregor, BD. & Lizieri, C. (2008). 'The inflation hedging characteristics of US and UK investments: A multi-factor error correction approach'. Journal of Real Estate Finance and Economics, vol 36, no. 2, pp. 183-206.
  [Online] DOI: 10.1007/s11146-007-9062-6
• Hendershott, PH., Hendershott, RJ. & MacGregor, BD. (in press). 'Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique'. Journal of Real Estate Literature.
• Hendershott, PH., Hendershott, RJ. & MacGregor, BD. (in press). 'In search of commercial real estate bubbles'. Research Review (Journal of the International Council of Shopping Centers).
• MacGregor, BD. & Hendershott, PH. (2005). 'Investor rationality: evidence from UK property capitalization rates'. Real Estate Economics, vol 33, no. 2, pp. 299-322.
  [Online] DOI: 10.1111/j.1540-6229.2005.00120.x
• MacGregor, BD. & Hendershott, PH. (2005). 'Investor Rationality: An Analysis of NCREIF Commercial Property Data'. Journal of Real Estate Research, vol 27, no. 4, pp. 445-475.
• Fraser, P., MacGregor, BD., Hoesli, MER. & Hamelink, F. (2004). 'Time-varying Betas and Cross-Sectional Return-Risk Relation: Evidence from the UK'. European Journal of Finance, vol 10, no. 4, pp. 255-276.
  [Online] DOI: 10.1080/13518470110053407
• Adams, AT., Booth, PM. & MacGregor, BD. (2003). 'Lease terms, option pricing and the financial characteristics of property'. British Actuarial Journal, vol 9, no. 3, pp. 619-635.
• MacGregor, BD. & Schwann, G. (2003). 'Common features in UK real estate returns'. Journal of Property Research, vol 20, no. 1, pp. 23-48.
  [Online] DOI: 10.1080/09599910210155518
• Geltner, D., MacGregor, BD. & Schwann, G. (2003). 'Appraisal smoothing and price discovery in real estate markets'. Urban Studies, vol 40, no. 5-6, pp. 1047-1064.
  [Online] DOI: 10.1080/0042098032000074317
• Hamelink, F., MacGregor, BD., Nanthakumanran, N. & Orr, A. (2002). 'The duration of UK commercial property and equities'. Journal of Property Research, vol 19, no. 1, pp. 61-80.
  [Online] DOI: 10.1080/09599910110079631
• Hendershott, PH., MacGregor, BD. & White, M. (2002). 'Explaining Real Commercial Rents Using an Error Correction Model with Panel Data'. Journal of Real Estate Finance and Economics, vol 24, no. 1-2, pp. 59-87.
  [Online] DOI: 10.1023/A:1013930304732
• Hendershott, PH., MacGregor, BD. & Tse, R. (2002). 'Estimation of the Rental Adjustment Process'. Real Estate Economics, vol 30, no. 2, pp. 165-184.
  [Online] DOI: 10.1111/1540-6229.00036
• Chau, KW., MacGregor, BD. & Schwann, G. (2001). 'Price discovery in the Hong Kong real estate market'. Journal of Property Research, vol 18, no. 3, pp. 187-216.
  [Online] DOI: 10.1080/09599910110060064
• MacGregor, BD. (1999). 'Property investment appraisal'. British Actuarial Journal, vol 5, no. 5, pp. 955-982.
• MacGregor, BD. & Hoesli, MER. (1999). 'Real estate in mixed-asset portfolios: a review, part 2'. Quaderni di Diritto ed Economia del Territorio, vol 2, no. 2, pp. 31-45.
• MacGregor, BD. & Hoesli, MER. (1999). 'Real estate price and total return indices: an overview of methods'. Quaderni di Diritto ed Economia del Territorio, vol 2, no. 1, pp. 2-24.
• MacGregor, BD. & Hoesli, MER. (1999). 'Real estate in mixed-asset portfolios: a review, part 1'. Quaderni di Diritto ed Economia del Territorio, vol 2, no. 2, pp. 31-45.
• Giliberto, M., Hamelink, F., Hoesli, MER. & MacGregor, BD. (1998). 'Optimal Diversification within Mixed-Asset Portfolios using a Conditional Heteroskedasticity Approach: Evidence from the U.S. and the U.K'. Journal of Real Estate Portfolio Management, vol 5, no. 1, pp. 31-45.
• MacGregor, BD., Hoesli, MER. & Nanthakumaran, N. (1997). 'The short term inflation hedging characteristics of UK real estate'. Journal of Real Estate Finance and Economics, vol 15, no. 1, pp. 27-57.
  [Online] DOI: 10.1023/A:1007797221329
• MacGregor, BD. (1997). 'The spatial dimensions of the investment performance of UK commercial property'. Urban Studies, vol 34, no. 9, pp. 1475-1494.
  [Online] DOI: 10.1080/0042098975529
• Hamelink, F., Hoesli, MER. & MacGregor, BD. (1997). 'Inflation hedging versus inflation protection in the US and the UK'. Real Estate Finance, vol 14, no. 2, pp. 63-73.
• MacGregor, BD., Adair, A., Hutchison, NE., McGreal, S. & Nanthakumaran, N. (1996). 'An analysis of valuation variation in the UK commercial property market: Hager and Lord revisited'. Journal of Property Valuation and Investment, vol 14, no. 5, pp. 34-47.
• MacGregor, BD., Hoesli, MER., Nanthakumanran, N. & Matysiak, G. (1996). 'The long term inflation hedging characteristics of property'. Journal of Property Finance, vol 7, no. 1, pp. 50-61.
  [Online] DOI: 10.1108/09588689610111610
• MacGregor, BD., Crosby, N. & Baum, A. (1996). 'Price formation, mispricing and investment analysis in the property market: A response to “A note on ‘The initial yield revealed: explicit valuations and the future of property investment’'. Journal of Property Valuation and Investment, vol 14, no. 1, pp. 36-49.
• MacGregor, BD., Hoesli, MER. & Eichholtz, P. (1995). 'Real estate portfolio diversification by property type and geographical region'. Journal of Property Finance, vol 39-60, no. 22, pp. 39-60.
• MacGregor, BD. & Ross, A. (1995). 'Master or servant?: the changing role of the development plan in the British planning system'. Town Planning Review, vol 66, no. 1, pp. 41-59.
• MacGregor, BD. & Stockdale, A. (1994). 'Land use change on Scottish Highland Estates, Journal of Rural Studies'. Journal of Rural Studies, vol 10, no. 3, pp. 301-9.
• MacGregor, BD., Key, T., Zarkesh, F. & Nanthakumaran, N. (1994). 'Understanding the property cycle'. property review, vol 4, no. 2, pp. 61-3.
• MacGregor, BD. & Nanthakumaran, N. (1992). 'The allocation to property in the multi-asset portfolio: the evidence and theory reconsidered'. Journal of Property Research, vol 9, no. 1, pp. 5-32.
• MacGregor, BD. & Baum, A. (1992). 'The initial yield revealed: explicit valuations and the future of property investment'. Journal of Property Valuation and Investment, vol 10, no. 4, pp. 709-726.
• MacGregor, BD. (1990). 'Risk and return: constructing a property portfolio, Journal of Valuation'. Journal of Property Valuation and Investment, vol 8, no. 3, pp. 233-242.
• MacGregor, BD. (1988). 'Owner motivation and land use on landed estates in the north-west Highlands of Scotland'. Journal of Rural Studies, vol 4, no. 4, pp. 389-404.
• MacGregor, BD., Baum, A. & Adams, CD. (1988). 'The availability of land for inner city development: a case study of inner Manchester'. Urban Studies, vol 25, pp. 62-76.
• MacGregor, BD. (1987). 'Employment creation on North-West Highland estates'. Scottish Geographical Magazine, vol 103, no. 1, pp. 47-49.
• MacGregor, BD., Adams, CD. & Baum, A. (1987). 'Inner city land vacancy: the influence of the compensation code'. Journal of Planning and Environment Law, pp. 253-270.
• MacGregor, BD. (1986). 'Crofting demography and land use: a case study of North-West Sutherland'. Scottish Geographical Magazine, vol 102, no. 1, pp. 41-56.
  [Online] DOI: 10.1080/00369228618736647
• MacGregor, BD. & Langridge, R. (1986). ''The Good District' - Newbury as a seedbed for success?'. Planning Outlook, vol 29, no. 1, pp. 19-22.
• MacGregor, BD., Langridge, R., Adley, J. & Chapman, B. (1986). 'The development of high-technology industry in Newbury District'. Regional Studies, vol 20, no. 5, pp. 433-448.
• MacGregor, BD. (1985). 'Land development and employment creation on landed estates in the Northern Highlands'. Journal of Environmental Planning and Management, vol 28, no. 2, pp. 98-104.
  [Online] DOI: 10.1080/00320718508711753
• Adams, CD., Baum, A. & MacGregor, BD. (1985). 'The influence of valuation practices upon the price of vacant inner city land'. Journal of Property Research, vol 2, no. 3, pp. 157-173.
  [Online] DOI: 10.1080/02640828508723891

Contributions to Conferences

Abstracts

• Brounen, D., Hendershott, PH., Jennen, M. & MacGregor, BD. (2009). 'The determinants of retail rent dynamics: the case of US metropolitan markets'.
• MacGregor, BD. & Schwann, G. (2008). 'Height restrictions and the decision to build an office tower'. AREUEA International Conference, Istanbul, Turkey, 2/07/08 - 5/07/08,.

Books and Reports

Books

• Hoesli, MER. & MacGregor, BD. (2000). 'Property investment: Principles and practice of portfolio management'. Pearson Education, Edinburgh, United Kingdom.
• Field, B. & MacGregor, BD. (2000). 'Forecasting techniques for urban and regional planning: the living environment'. Nelson Thornes Ltd, Cheltenham, United Kingdom.
• Ball, M., Lizieri, C. & MacGregor, BD. (1998). 'The economics of commercial property markets'. Routledge, London, United Kingdom.
• MacGregor, BD., Robertson, D. & Shucksmith, M. (1987). 'Rural housing in Scotland: Recent Research and Policy'. Aberdeen University Press, Aberdeen, United Kingdom.

Commissioned Reports

• MacGregor, BD., Munro, G. & Stockdale, A. (2003). 'Migration, Gaelic-medium Education and Language'. Unknown Publisher, Ionad Naiseanta na h-Imrich, Sabhal Mor Ostaig.
• Bebbington, J. & MacGregor, BD. (2003). 'Modelling and accounting for sustainable development'. Unknown Publisher, Report to the RICS.

Other Contributions

• Hendershott, PH. & MacGregor, BD. (2005). 'Investor Rationality: Evidence from UK Capitalization Rates'.

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