This study examines the market value of total, mandatory, and discretionary REIT dividends and supports dividend relevance. Consistent with agency cost theory, the results show dividends paid by REITs with greater potential agency conflicts have greater market value. Discretionary dividends paid...

Net operating working capital captures multiple dimensions of firms' adjustments to operating and financial conditions. Sales growth, uncertainty of sales, costly external financing, and financial distress encourage firms to pursue more aggressive working capital strategies. Firms with greater...

The authors examine the distribution of elapsed time between published research papers and the literature they reference in quantitative business-oriented journals indexed by the <italic>Journal of Economic Literature</italic>. This distribution is better approximated by the generalized gamma distribution than...

This study examines the market value of REIT dividends conditional on transparency of operating structure and effectiveness of boards. Results suggest that total, mandatory and discretionary dividends are valued by the market. Consistent with agency cost theory, results provide some evidence...