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Understanding the Resurgence of the SOEs in China : Evidence from the Real Estate Sector

Fang, Hanming; Wu, Jing; Zhang, Rongjie; Zhou, Li-An - National Bureau of Economic Research - 2022

We advance a novel hypothesis that China's recent anti-corruption campaign may have contributed to the recent resurgence of the state-owned enterprises (SOEs) in China as an unintended consequence. We explore the nexus between the anti-corruption campaign and the SOE resurgence by presenting...

Persistent link: https://www.econbiz.de/10012814463

An Equilibrium Analysis of Real Estate

Grenadier, Steven R. - 2003

This paper provides a unified equilibrium approach to valuing a wide variety of commercial real estate lease contracts. Using a game-theoretic variant of real options analysis, the underlying real estate asset market is modeled as a continuous-time Nash equilibrium in which developers make...

Persistent link: https://www.econbiz.de/10012469228

Can Free Entry be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry

Hsieh, Chang-Tai - 2002

Real estate agents in the US typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match...

Persistent link: https://www.econbiz.de/10012469501

Taxing and Subsidizing Housing Investment : The Rise and Fall of Housing's Favored Status

Hendershott, Patric H. - 2000

This paper surveys and interprets a wide body of literature on the taxation and subsidization of investment in owner-occupied and rental housing. Where available, the study considers experiences outside of the United States. Issues addressed include what nonneutral taxation is, how...

Persistent link: https://www.econbiz.de/10012470808

The Asset Price Incidence of Capital Gains Taxes : Evidence from the Taxpayer Relief Act of 1997 and Publicly-Traded Real Estate Firms

Sinai, Todd - 2000

We provide new evidence that corporate-level investment subsidies can be substantially capitalized into asset prices by examining the relative stock price performance of publicly traded companies in the real estate industry that should have been differentially affected by the capital gains tax...

Persistent link: https://www.econbiz.de/10012470844

Derisking Real Estate in China's Hybrid Economy

Xiong, Wei - National Bureau of Economic Research - 2023

This article examines the risks faced by China's real estate sector within its distinct hybrid economy, which combines market mechanisms with comprehensive state planning and government intervention. The real estate sector holds particular importance as land sale revenues are a crucial source of...

Persistent link: https://www.econbiz.de/10014250136

A Tale of Tier 3 Cities

Rogoff, Kenneth S.; Yang, Yuanchen - National Bureau of Economic Research - 2022

This paper provides new estimates of the housing stock, construction rates and price developments by city tier in China in order to understand where excess supply might be concentrated, and the implications of any significant contraction. We also update estimates of the size of China's rapidly...

Persistent link: https://www.econbiz.de/10013388875

Does Occupational Licensing Reduce Value Creation on Digital Platforms?

Blair, Peter Q.; Fisher, Mischa - National Bureau of Economic Research - 2022

We test whether occupational licensing undercuts a key goal of digital marketplaces-- to increase social surplus by increasing the effectiveness of customer search. Our setting is a large online marketplace in the $500B home services industry where a platform converts customer search into sales...

Persistent link: https://www.econbiz.de/10013362042

Timing Sustainable Engagement in Real Asset Investments

Kroft, Bram van der; Palacios, Juan; Rigobón, Roberto; … - National Bureau of Economic Research - 2024

This paper estimates the effect of sustainable shareholder engagement on firm's investments. We study the real estate industry where investments are sporadic and occur following depreciation cycles. SEC restrictions (rule 240.14a-8) on shareholder proposals, in combination with the asset...

Persistent link: https://www.econbiz.de/10014635609

Does management matter? : evidence from India

Bloom, Nicholas Dagen (contributor) - 2011

"A long-standing question in social science is to what extent differences in management cause differences in firm … performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting … on modern management practices to a randomly chosen set of treatment plants and compared their performance to the control …

Persistent link: https://www.econbiz.de/10011394862

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