Howe, John S.; Jain, Ravi - In: The Journal of Real Estate Finance and Economics 28 (2004) 4, pp. 369-388
This article examines two effects of the passage of the REIT Modernization Act (RMA) of 1999: its impacts on REIT shareholder wealth and changes in REIT systematic risk in the period following its passage. The results indicate a modest positive wealth effect associated with the legislative...