We analyze how the unique characteristics of real estate invest trusts (REITs) affect IPO lockup agreements from 1980 to 2006. The findings show that, unlike industrial IPOs, lockup periods for REIT IPOs do not cluster at 180 days, tend to cover longer periods, and vary over time. Our results...

We examine the role of demographics and family/social interaction in Chinese household finance. The impacts of demographic characteristics are not limited to stock market participation, but extend to other financial activities. Households with strong family and social interaction are more likely...