This study analyses the performance of real estate mutual funds for 1993 through 2001 period. The results indicate that real estate mutual funds do not provide positive abnormal performance on average. Fund performance to a large extent is determined by the performance of the real estate sector...

REITs are attractive to investors due to their unique characteristics such as high dividend yields, low correlation with common stocks, and a potential hedge against inflation. Thus the market demand curve of REIT equities may not be horizontal. This paper examines the shape of the market demand...

La2O3 doped Ni-based coatings have been prepared by electrospark deposition technique. The effect of La2O3 on the microstructure, hardness and wear behavior of the as-prepared Ni-based coatings is investigated by using X-ray diffractometer, scanning electron microscope, wear tribometer and...

The oxidation tests of electrospark deposited Ni-based coatings without and with 2.5 wt.% La2O3 were conducted at 960°C in air for 100 h. The oxidation kinetic of the coatings was studied by testing the weight gain. The phase structures and morphologies of the oxidized coatings were...

In this paper, we examine the impact of managerial self-interest on the value of multinationality. Since agency theory also suggests that a divergence between the interests of managers and shareholders can be aligned by effective managerial incentive, we also examine the effect of managerial...

This study examines institutional herding in the ADR market between 1985 and 1998. We find a significant positive relation between changes in institutional ownership and ADR returns over the same period. The positive relation persists after we control for the momentum effect in the US stock...