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While the Real Estate Investment Trusts (REITs) industry is traditionally viewed as a cash flow business, REIT investors have also relied on Funds from Operations (FFO) and net income to evaluate company performance. In this study, we compare FFO and net income by examining how well these two...
Persistent link: https://www.econbiz.de/10011132579
Screening equilibria, mainly those a la Rothchild-Stiglitz(1976), have been widely used to explain various aspects of mortgage contracting. In the real world, however, most mortghage contracting processes involve both signalling and screening. In this paper, we combine signalling and screening...
Persistent link: https://www.econbiz.de/10011162404
This study developed a unified framework for theoretically analyzing a set of mortgage attributes that screens borrower types according to their unobservable default risk. In the presence of asymmetric information, a self-selection process is attained, where lower default risk type borrowers...
Persistent link: https://www.econbiz.de/10005258842
We propose a simple axiomatic system that any depreciation method¡ªcomplying with the core of the accounting of depreciation¡ªmust obey. We show that, while none of the prevalent depreciation methods (e.g., straight-line) ex ante conforms to these principles, the accredited...
Persistent link: https://www.econbiz.de/10008633157
Persistent link: https://www.econbiz.de/10001617716
Empirical evidence shows that the value of units in a building generally rises with their floor level due to features such as the better view and lesser noise experienced in higher stories. We adopt a theoretical approach for examining the value of units in different floors based on the...
Persistent link: https://www.econbiz.de/10011252768
This research is the first to explore the time-to-sell (TTS) and willingness to pay (WTP) in the context of green real estate. We employ unique data on transactions and household characteristics of owner-occupiers in newly developed green and conventionally built condominiums. We find that,...
Persistent link: https://www.econbiz.de/10012953880
Empirical findings in physiology and psychology show that disabled persons often develop physical and mental mechanisms to compensate for disabilities. Coping mechanisms may not be limited to the psycho-physiological domain, however, and may extend to economic behavior. Improved economic...
Persistent link: https://www.econbiz.de/10013035605
Persistent link: https://www.econbiz.de/10015141883
The real estate market is recognized as a fertile ground for tax violations. Specifically, reporting a price lower than the true transaction price in order to avoid tax payments is a prevalent technique. We propose an empirical method for identifying housing transactions that are suspected of...
Persistent link: https://www.econbiz.de/10012900584