This study examines the effect of the sale and leaseback of corporate real estate on the stock prices of the selling firms. We ask whether the Tax Reform Act of 1986 (TRA 1986) had a negative impact on the market valuation effects of corporate sale and leasebacks. The results of the comparative...

Investors in coupon bonds evaluate them based upon financial considerations such as coupon rate, time-to-maturity, callability, convertibility, and financial condition of the issuer. These investors regard promised yield as only a rough measure of the reward a bond offers to compensate them for...

This article presents a theoretical model of the decision to disclose property condition defects by a real estate broker. The model introduces the costs and benefits of disclosure into the broker's profit function. The comparative static results of the model show that a number of factors will...

This paper examines the continuing evolution of the Internet and the resulting effects on the efficiency of buyer search. The study encompassed market conditions indicative of both a buyer's and seller's market. The results indicate that as Internet usage increased search duration increased,...

While there has been a great deal of research into the factors determining residential real estate agent/salesperson/broker income, little attention has been directed at how this income is generated. Numerous authors [ including, but not limited to, Follain, Lutes and Meier (1987), Glower and...

Evidence from the corporate finance literature indicates that diversified firms trade at a discount to otherwise comparable specialized firms. However, very little research has addressed whether a similar diversification discount might exist in equity REITs that diversify across property types...