Comparing agent-owner with agent-represented home sales illustrates that commission contracts lead to external agent moral hazard. Real estate developers are sophisticated sellers who can either use external agents or hire internal agents. The theory shows that neither scheme eliminates agent...

Purpose – REITs have taken on increased significance in Asia in recent years, with Singapore REITs (S-REITs) becoming an important property investment vehicle since 2002. The purpose of this paper is to assess the significance, risk-adjusted performance and portfolio diversification benefits...

The focus of this research paper is on the debt ownership choice of UK property companies. The data show that bank borrowings constitute more than half of the total outstanding debt of the quoted property sector, testifying to the widespread use of bank debt among property companies. We carried...

Purpose – Aims to investigate the long‐run and short‐term relationships among four Asian property stock markets of Japan, Hong Kong, Singapore and Malaysia; and four European property stock markets of UK, France, Germany and Italy. Additionally, aims to examine the relationships between...

Employing the panel data methodology, we examine the capital structure determinants of 83 property companies quoted in the UK. The empirical test reveals how the debt‐equity structure of the companies is influenced by the various firm‐specific attributes and macro‐economic factors. In...

This study examines the issue of cross‐continental publishing in real estate research to understand the research interaction between the two major English‐speaking countries and to determine if a home bias exists. This study also determines the extent to which authors from other countries...