This paper re-examines the performance of REITs, stocks, and fixed-income assets based on the preferences of risk …-averse and risk-seeking investors using mean-variance and stochastic dominance approaches. Our findings indicate no first … order to maximize their expected utility, the risk-averse prefer fixed-income assets over real estate, which, in turn, is …

a crucial role in their decision making. A stock price crash risk is a classical topic in financial markets; therefore …, this paper probes the relationship between firm-level political risk and stock price crash risk based on a sample of … the firm-level political risk of Chinese listed firms. Our results show that a firm's stock price crash risk is positively …