We develop freedom of choice indices for 46 countries and test its influence on systematic liquidity co-movements. Country-specific indices reflect the impacts of three aspects of freedom of choice: (i) opportunity, (ii) decisional autonomy and (iii) immunity from interference. We find that...

This study proposes the housing "beta" and tests whether the housing "beta" is a significant determinant for stock returns in a multifactor framework. We hypothesize that the housing market is a systematic risk factor given the impact of the housing market on the overall economy and economics...

This study analyzes the market quality differences, in terms of liquidity and volatility, between Real Estate Investment Trusts (REITs) and common stocks. The 2008 financial crisis has significantly influenced the market quality for REITs. Our findings reveal intraday patterns indicating a lower...

The U.S. Forest Service and the U.S. Bureau of Land Management (BLM) control large tracts of federal public lands. Management goals for these tracts are described as ‘‘multiple-use.'' Some of the lands are forested, mountainous, contain wildlife or possess other scenic and recreational...

Every state entering the Union in the United States since 1803 received land grants from the federal government for the support of their public schools. Inherent in this federal grant is the fiduciary duty to prudently and effectively manage trust assets for the beneficiary, their school...

Every state entering the Union since 1803 received land grants from the federal government for the support of their respective public school systems. Inherent in this federal grant is the fiduciary duty to prudently and effectively manage these assets for the beneficiary, their school systems....

This article compares the attributes of a hedonic model for valuing real estate located near Jackson Hole, Wyoming with the attributes of a hedonic model for valuing agricultural property located throughout the remainder of Wyoming. It is observed that attributes affecting the value of resort...