The empirical corporate finance literature claims that better corporate governance constrains earnings management, while others argue that the unique legal and reporting structure of REITs may reduce the need for such internal corporate governance. Using a sample of publicly traded REITs for the...

A special feature of China’s housing market is land use rights in the form of land leasehold contracts granted by the government. We consider an equilibrium model in which a representative developer may choose to redevelop existing centrally located housing or to develop new housing at the...

A recent article [S. Keen, R. Standish, Profit maximization, industry structure, and competition: a critique of neoclassical theory, Physica A 370 (2006) 81–85] suggests that the Cournot model, which is widely used in Economics, is inappropriate and the article proposes an alternative. I argue...