This paper resents an event-time study of the wealth effects associated with the corporate decision to lease real estate assets. The analysis provides a measure of the valuation consequences of real estate lease transactions for corporate lessees to determine whether such transactions offer a...

In this paper, we reexamine the issue of whether corporate relocation assistance programs for transferred employees significantly affect sale prices of single-family homes. We estimate a hedonic price equation that includes physical housing characteristics, location factors, occupancy status,...

This article groups the remarks of a multiple listing service listing into common themes and then uses a hedonic pricing model to determine whether such comments are priced in a meaningful way. The comments provide information on the motivation of the seller, location of the property and...

This study employs a multivariate Granger-causality procedure to examine causal relationships between selected economic and financial variables and industrial real estate prices. Empirical results indicate that relationships between several of these variables' lagged values and current values of...

This study provides empirical evidence regarding brokerage firm concentration in a local market multiple listing service setting over the year 1992-1995. To evaluate the level of brokerage firm concentration in this market, Gini Coefficients, Herfindahl-Hirschman Indices and Concentration Ratios...

This study examines the wealth effects surrounding the separation of real estate operations via spin-off. Parent firms of spin-offs in this sample experienced a significant abnormal two-day return of 3.195% for days - 1 and 0 of the announcement data in the Wall Street Journal. Tracking the...

This research investigates the valuation impact of the formation of a Corporate Real Estate Unit (CREU) on the stock price of the parent organization. Using standard event study methodology, the empirical tests show that the formation of a CREU, in general, is associated with positive gains to...

Real estate professionals believe that foreclosed houses sell at a discount. This article empirically investigates whether foreclosed houses sell at a discount. A sample of 2,482 residential transactions in Arlington, Texas, is used in a hedonic pricing model to test this hypothesis. The results...

This paper presents a game theoretic model of property tax assessment that allows a tax appraiser to either choose a high or a low assessment. The owner either accepts or challenges this assessment. A ‘‘fixed effects’’ regression model is used to evaluate the...

Recent research investigated the relationship between physical factors and the asking price of industrial buildings. We extend prior research by including physical, locational, financial, and economic variables to determine the factors that influence the sales price. This research provides an...