Extreme risks associated with extraordinary market conditions are catastrophic for all investors. The ongoing financial crisis has perfectly exemplified this point. Surprisingly there are few studies exploring this issue for REITs. This study aims to close the knowledge gap. We conduct a...

"Tail dependence" characterizes the cross market linkages during stressful times. Analylzing tail dependence is of primary interest to portfolio managers who systematically monitor the co-movements of assets markets. However, the relevant literature on real estate securities markets is very...

We study auditors' client risk management in the first year of SOX 404 implementation, and find that there exists a pecking order among auditors' strategies to manage control risk resulting from internal control weaknesses. We first examine the relations between internal control weaknesses and...

In the context of the digital economy, empowering firm innovation investment through digital transformation is an important strategy for promoting innovation development in China. This study investigates the effects and mechanisms of digital transformation on firm innovation investment from the...