As the REIT regime has been expanding globally over the last ten years, corporate governance practices in emerging REIT markets have become a major concern for domestic and international investors alike. Idiosyncrasies stemming from the ownership models applied in Asian economies and the fact...

The financial economics literature suggests that the possibility of rare events occurring affects asset pricing dynamics. At the same time, the recent finance literature found that investors often pay only limited attention to relevant information in making their investment decisions and they...

This paper provides a more comprehensive understanding on the corporate financial policies of real estate organizations by examining the capital structure practices of real estate corporations across different markets and over time. The empirical evidence, based on fourteen markets in Europe and...

This paper examines the effects of property age on the operational efficiency, firm risk, stock performance, and executive compensation of real estate investment trusts (REITs). Using a large property-level data set of U.S. equity REITs from 1995 to 2020, we construct a firm-level property age...

We examine the effect of direct mail (commonly referred to as junk mail) advertising on individual financial decisions by studying consumer choice of home equity debt contracts. Consistent with the theoretical predictions, we find that financial variables underlying the relative pricing of debt...

We examine the effect of direct mail (commonly referred to as junk mail) advertising on individual financial decisions by studying consumer choice of home equity debt contracts. Consistent with the theoretical predictions, we find that financial variables underlying the relative pricing of debt...

The authors examine whether a borrower’s choice of automobile reveals information about future loan performance. They find that loans on most luxury automobiles have a higher probability of prepayment, while loans on most economy automobiles have a lower probability of default, even when...

Subsidized loans may help increase home ownership in low income neighborhoods with positive social benefits, however there are risks and costs to the homeowners themselves. Home ownership increases incentives to maintain property and neighborhood, as well as decreasing the outflow of rents from...

This paper uses statistical regression techniques to develop a model to explain both warehouse asking prices and warehouse quoted lease rates. In developing the statistical models, the paper provides a useful comparison between ordinary least squares (OLS), and weighted least squares (WLS)...

This study explores the location preferences for firms of different sizes, using a varying coefficient model to study the relationships underlying industrial location and economic development in the rural Southeast. The model distinguishes between the ability of a county to attract industry both...