In response to the recent financial crisis, the U.S. Government introduced new rules which allow REITs to issue elective stock dividends (ESD) to satisfy their distribution requirements. The goal of these rules was to provide temporary relief to REITs facing cash flow problems. We investigate...

The initial public offerings (IPO) in the stock market can relate to the real estate market through different channels. An increase in IPO may represent an improvement in the “market sentiment,” which would also stimulate the real estate market. IPO can also increase the demand on commercial...