This article proposes a duopoly dynamic game theoretic model to investigate the market structure and aggregate surplus of real estate development when land is sold in a sealed-bid first price auction vis-à-vis an open English auction. It relaxes the assumption of symmetric bidders. The land...

This paper shows that ignoring differences in developers' competitive strength and their bidding behavior in land auctions leads to distorted valuation of urban lands. Using the government's land sale data in Singapore for the sample periods 1990-2011, we found that after controlling for...

Purpose – The existing literature on real estate investment trust (REIT) capital-structure decisions implicitly excludes either interest payment tax shield benefits or a trust's growth potential. The purpose of this paper is to test the long-term debt leverage decisions of listed property...

This paper aims to investigate the peer effects in financial investment of board-interlocked firms from the information sharing perspective. Based on board interlock and financial information of A-share listed nonfinancial firms in China, we construct board interlock networks where firms share...

There are limitations in the understandings of investors’ overreaction to the volatility in less transparent industrial sectors. Investors investing in a less transparent sector are likely to over-interpret available market information. This article compares investors’ reaction to market...

Xinjiang Province is an important regional location for the Belt and Road Initiative. The construction of national cooperation bases is an important guarantee for international scientific and technological cooperation and the construction of the Belt and Road. Principal component analysis was...