Friday, H. Swint; Sirmans, G. Stacy; Conover, C. Mitchell - In: Journal of Real Estate Research 17 (1999) 1, pp. 71-90
This article examines the relation between ownership structure and firm value as proxied by market-to-book ratios for real estate investment trusts (REITs) over the period 1980 to 1994. Piecewise regression analysis reveals a nonlinear relationship between REIT market-to-book ratios and...
