We analyze the determinants of expansions and contractions of shopping centers using a unique dataset of property level data for shopping centers in eleven metropolitan areas over the period from 1995 through 2005. We find that shopping centers with large operating costs are less likely to...

This paper tests whether the dynamics of firm growth metrics, such as sales, investment growth, and changes in Ramp;D and acquisitions, are more consistent with firms delivering growth when stock prices are more sensitive to growth related news (the catering channel) or with firms learning from...

This study investigates whether investors see through materially misstated earnings, and whether they anticipate earnings restatements. For firms that restate at least one annual report, we find that investors are misled by mistakes in reported earnings at the time of initial earnings...

Financially constrained bidders are more likely to use stock in acquisitions and are significantly more sensitive to stock valuations and growth opportunities in their method of payment decisions than are unconstrained bidders. Furthermore, in stock-swap transactions, constrained acquirers with...