A dual-beta asset pricing model is employed to examine the cross-section of realized equity real estate investment trust ("EREIT") returns over bull and bear markets. No significant relationship is found between "EREIT" returns and a constant beta. However, beta explains cross-sectional returns...

I examine firm characteristics available to investors at a firm's initial public offering date to determine whether they predict the firm's survival, acquisition, or failure. Firms survive more often than they are acquired when they are venture-backed, the chief executive officer is the original...

In this paper we measure the market reaction to 937 straight debt issues between 1983 and 1993. We find a negative and significant market reaction to a straight debt announcement. In addition, we find that the market reaction to a straight debt issue is directly related to the issuing firm's...

We examine the operating performance of 200 equity real estate investment trusts (REITs) following seasoned equity offerings (SEO) made between 1990 and 1996. Our sample shows flat to increasing levels of operating performance changes prior to the SEO; and increasing raw performance changes and...