Work developed broadly within the Weberian tradition has argued, for a long time, that there is a link between effective bureaucratic institutions and economic development. In a widely cited article, Evans and Rauch (1999) have demonstrated that there is a strong relationship between a national...

This paper analyzes the effect of financial advisor-monitors on the valuation of REIT mergers. We analyze advisor choice determinants and the effects of advisors on transaction value using a sample of REIT mergers for the 1981 to 2001 period. We estimate a two stage target firm pricing model:...

Government-guaranteed mortgage loans (GFRMs) and adjustable- rate mortgages (ARMs) were introduced to make payment to income (PTI) and loan to value (LTV) qualification conven- tions less restrictive. This paper analyzes the effect of GFRMs and ARMs on the demand for housing. Using a large...