Using a sample of over 5,000 European firms, we document the driving factors of capital structure policies in Europe. Controlling for dynamic patterns and national environments, we show how these policies cannot be reduced to a simple trade-off or pecking order model. Both corporate governance...

We use the Adjusted Present Value (APV) method with Monte Carlo simulations for real estate valuation purposes. Monte Carlo simulations make it possible to incorporate the uncertainty of valuation parameters, in particular of future cash flows, of discount rates and of terminal values. We use...

In this paper, we analyze the determinants of the capital structure for a panel of 106 Swiss companies listed in the Swiss stock exchange. Both static and dynamic tests are performed for the period 1991-2000. It is found that the size of companies, the importance of tangible assets and business...

The paper explores the institutional context as a driving force of cash holdings, focusing on the role of ownership concentration, voting rights, growth opportunities, and information asymmetries. For this purpose, we use a sample of 128 Swiss firms for the period 1990-2000 as Swiss firms are...

The aim of this paper is to gain a better understanding of the characteristics related to the environment of single-family houses in the greater Geneva area. An Analytical Hierarchy Process (AHP) methodology is applied to the data collected by means of a questionnaire which was sent to 850...

The aim of this paper is to compare various real estate valuation models and the manner in which they take into account environmental variables. The reference model is taken to be a standard linear regression model including ordinal variables to measure environmental quality. This type of model...