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As competition accelerates, so do the strategies of players, in the shape of fast-track corporate investment strategies to maneuver around competitors. Under hypercompetition, a corporate strategy for acquiring competitive options may form an evolutionarily stable meta-strategy capable of...

There is remarkably little empirical evidence of the advantages of increased size on risk levels in real estate portfolios based on actual portfolios. This paper improves this by examining the portfolio risk of a large sample of actual real estate data in the UK over the period from 1981 to...

No Abstract

Appraisal smoothing understates the true volatility of real estate returns, and consequently affects asset allocation decisions. The high level of smoothing observed in commercial property index returns can be shown to be largely influenced by the effect of serial cross-correlation. This paper...

In recent years, the size and scope of legalized gambling in Canada has risen sharply. This increase has taken place in a chaotic fashion, and largely in the absence of a clear picture of what the net benefits might be. This paper describes distinguishing features of gambling in Canada. It then...

Decision theory is the study of models of judgement involved in, and leading to, deliberate and (usually) rational choice. In real estate investment, there are models for the pricing and allocation of assets. These asset allocation models suggest an optimum allocation between the respective...

No Abstract

A two-part process is employed to analyse the role of efficiency in merger and acquisition (M&A) activity in Australian credit unions during the period 1993-1997. The measures of efficiency are derived using the non-parametric technique of data envelopment analysis. The first part uses panel...

This paper analyses investments by firms into areas of corporate social responsibility, focussing on the decision by firms whether or not to invest in compliance with voluntary environmental standards. Theoretical predictions of the compliance decision are tested using discrete time survival...