We examine dividend payout behavior of US Real Estate Investment Trusts over time. Our sample contains 6157 REIT dividend announcement observations over the period of 1990-2006. We find that US REIT dividend payout ratio has increased over time, as has increased REIT dividend yield. Also,...

This paper provides insight to understanding the factors impacting studentís decision to live on-campus and the universityís concomitant decision to build on-campus housing. We examine the relationship between the percentage of students living on-campus and a number of factors, including...

This paper examines the impact of debt covenants on the speed of capital structure adjustment. Overall, we find that covenants lower the speed of adjustment by 10–13%, relative to the speed of adjustment of firms without covenants. The speed of adjustment is significantly lower, by 40–50%,...

This paper studies how the presence of sponsor and external management affect leverage and debt maturity decisions in three major Asian-Pacific REIT markets: Australia, Japan and Singapore. Our empirical results indicate that sponsored REITs opt for higher levels of leverage and loans with...

This study examines the effect of geographic scope in mitigating the adverse impact of the COVID-19 pandemic in the real estate sector. Utilizing the Chinese setting over the two-month period in 2020 from the beginning of the outbreak to the successful containment of the spread of virus, we show...

This paper utilizes timely proprietary data to examine the contemporary impact of the COVID-19 pandemic on commercial property rent dynamics in the Asia-Pacific region. Given that the Asia-Pacific region was the first to be impacted by the public health crisis, it is important to examine how the...

This paper studies how the presence of sponsor and external management affect leverage and debt maturity decisions in three major Asian-Pacific REIT markets: Australia, Japan and Singapore. Our empirical results indicate that sponsored REITs opt for higher levels of leverage and loans with...

Have globalization and increasing economic and financial integration affected the rates of return of publicly traded real estate companies around the world? Using a set of multi-factor models for annual data for 946 firms from 16 countries over the sample period, 1995-2002, we estimate the...

This study examines Funds from Operations (FFO), a non-GAAP summary performance measure used extensively by the Real Estate Investment Trust (REIT) industry, by comparing the quality of accruals in FFO and in net income. Accrual quality is empirically evaluated from regressions relating accruals...

This study investigates the spillover effect of corporate headquarters relocation on the local housing market. Using a comprehensive database to identify corporate relocation events in the U.S. from 1994 to 2017, we show that moving a corporate headquarters into a district is significantly...