Previous studies have found evidence that selecting stocks with positive price momentum is effective in the U.S., European, and emerging stock markets for periods up to a year. The reasons, however, that historical price momentum forecasts the direction and magnitude of stock returns are not...

We empirically investigate dividend and share repurchase policies of Canadian firms. We have sent aquestionnaire to the 500 largest non-financial Canadian companies listed on the Toronto StockExchange, of which 191 usable responses were returned. These data are used to measure...

In this paper we empirically investigate the determinants of leverage and specific agency problems and we examine the relations between leverage and these agency problems. We use structural-equations modeling with latent variables and questionnaire data. The questions concern the characteristics...

We investigate the determinants of direct office real estate returns by analyzing rents, capital appraisals, and total returns. A recently compiled global database of major cities in Asia, Europe, and the United States provides a unique opportunity to give a macro-view on the effects of economic...