We examine whether internet search intensity, as captured by Google’s Search Volume Index (SVI), predicts house price changes in an emerging market like India. Emerging markets have low internet penetration and high information asymmetry with a dominant unorganized real estate market. Like in...

Ideally land and buildings ought to be preferred collateral for lenders in India, as in many other countries, due to the ease of valuation and disposal of land in the event of default. Data shows that land is a collateral in a large proportion of loans in India, yet the several structural,...

A large share of residential properties on sale in developing countries is under construction. This is partly due to lengthy periods of construction. But purchasing under-construction properties can be costly and risky because of construction delays and the possibility of stalled construction....

A large share of residential properties on sale in developing countries is under construction. This is partly due to lengthy periods of construction. But purchasing under construction properties can be costly and risky because of construction delays and the possibility of stalled construction....

We examine the effect of negative news disclosures on managers’ acquisition decisions. Using electronically disseminated press releases and a textual analytics engine, we find that the percentage of negative news disclosed by a firm reduces its probability of undertaking acquisitions. However,...

We examine the impact of improved investor protection due to cross-listing on foreign firms' investment decisions to explore the channels through which cross-listing increases foreign firms' value. While we find that cross-listing increases firms' capital expenditures and M&A activities,...

On March 21, 2007, SEC passed Rule 12h-6 to make it easier for cross-listed firms to deregister from the U.S. market and escape its regulatory costs. Using difference-in-difference tests, we find that, on average, Rule 12h-6's passage induced an increase in voting premium, a decline in equity...

Using a sample of 47,260 annual and 12,276 unique property observations during 2000 – 2011 we analyze the relationship between capital expenditures and performance by employing 2SLS models, in which capital expenditures are modeled as a function of property characteristics (age, square...

Dividend distribution enhances information transmission, and mitigates agency conflicts by restricting managers' access to free cash flow, and exposing firms to the scrutiny and monitoring by market participants when raising external capital. The reduction in agency costs and improvement in...

We analyze director compensation for Real Estate Investment Trusts (REITs) and investigate the relations between director compensation and other measures of the board independence and board monitoring. Using 136 REITs in 2001, we find the REITs that pay higher equity-based compensation to their...