Devos, Erik; Spieler, Andrew; Tsang, Desmond - In: Real Estate Economics 42 (2014) 1, pp. 33-70
type="main" <p>In response to the recent financial crisis, the U.S. Government introduced new rules which allow Real Estate Investment Trusts (REITs) to issue elective stock dividends (ESDs), i.e., noncash dividends, to satisfy their distribution requirements. The purported goal of these rules was...</p>