Previous studies of share repurchase have primarily focused on examining announcement effects and long-term operating performance in order to distinguish among the diverse possible hypotheses for repurchase. One of the most important rationales they have studied is the over-investment...

This paper studies the micro-foundations of commercial real estate risk and performance. Specifically, we analyze the linkage between tenant quality and the performance of commercial real estate. A commercial real estate asset can be valued as the sum of the discounted future cash flows of...