The first examination of shareholder wealth effects of top real estate management turnover is provided. The evidence supports the notion that real estate managers possess firm-specific human capital through knowledge of their firms' real estate holdings. Companies that announce top real estate...

This paper provides empirical evidence on investors' perceptions of the relative advantages and costs of spatial agglomeration. Specifically, we examine the stock price effects of headquarters relocations. The stock market reaction is significantly positive when relocation decisions are...

Previous literature has shown that management turnover can enhance or reduce shareholder wealth. This study uses top real estate management turnover to examine how changes in firm specific human capital affect firm value. Real estate managers possess firm specific human capital through knowledge...

Over the recent decade there was a wave of REITs going private, from an average of about three per year to forty between 2005 and 2007. Standard corporate finance theory posits that firms go private when there is no longer a positive tradeoff between the expected benefits and the costs of being...

Over the recent decade there was a wave of REITs going private, from an average of about three per year to forty between 2005 and 2007. Standard corporate finance theory posits that firms go private when there is no longer a positive tradeoff between the expected benefits and costs of being...