This study explores whether a firm’s auditor choice affects its ability to access foreign equity capital. Using the equity holdings of 35,665 foreign mutual funds from 30 countries for the period 1998–2009, we find evidence that appointing a Big 4 auditor is associated with the increased...

Purpose – The purpose of this paper is to investigate the seasonal effect in the value premium puzzle. It studies whether the book-to-market effect is an outcome of the January effect observed among stock returns. Design/methodology/approach – The paper uses returns of portfolios based on...

This new two-year study of low-income New York City students in grades 3 to 6 who received vouchers to attend private schools shows no significant difference in test scores between the scholarship group and the control group. It also finds that students performed about the same on standardized...

Using Morningstar mutual fund stewardship grade data, we find that the governance mechanisms of mutual funds play a key role in their monitoring of portfolio firms and in their investment decisions. Mutual funds with better governance practices tend to vote responsibly on corporate governance...

This paper investigates whether multinational firms are less or more efficient in innovation activities than domestic firms. Using patents and citations scaled by R&D expenses and R&D capital as measures of innovation efficiency, we find that multinational firms have lower levels of innovation...

Past studies have shown that ex-dividend stock prices are not fully reflective of dividend payments. A tax-induced clientele effect and micromarket limitations in stock pricing have been used to explain this pricing anomaly. This study focuses on the ex-dividend behavior of real estate...

This article is the winner of the Retail Real Estate manuscript prize (sponsored by the International Council of Shopping Centers) presented at the 2001 American Real Estate Society Annual Meeting. This study empirically models the determinants of community center rent. It employs a two-stage...

This investigation expands the limited empirical research on retail rental rates by investigating the determinants of neighborhood shopping center rents. Evidence supports primary trade area and property specific characteristics as the primary determinants of neighborhood center vacancy and...

The contributions of international researchers and institutions to real estate literature for the 1990 to 2006 period are assessed. Both the Asia-Pacific and European regions increase their influence on the top tier of real estate literature. The North American region, while still the dominant...