This paper empirically examines the extent to which and how local economic growth and asset location affect firm growth based on a sample of US equity real estate investment trusts (REITs) from 2001 to 2016. Using the GDP growth rate by MSA and individual property data of REITs, we construct an...

Relations between REIT CEO compensation, firm stock performance and risk, after FASB accounting changes and additional SEC compensation disclosure requirements in 2006, are examined. Total compensation becomes more weighted to bonus payments and stock grants and away from options and salary. The...

The impact of technology investment on bank production and employment is examined. Using a new bank-level technology spending dataset from 2000-2017, we estimate the parameters of a firm-level production function correcting for endogenous input choices. We document that technology input on...

This paper examines the effects of property age on the operational efficiency, firm risk, stock performance, and executive compensation of real estate investment trusts (REITs). Using a large property-level data set of U.S. equity REITs from 1995 to 2020, we construct a firm-level property age...