Some studies indicate that there is only little difference between business and personal risks among small businesses. Personal assets and wealth can become subject to business risks depending on the organisational and legal structure chosen for the business. By the choice of the organisational...

Unlike for other asset classes the performance of direct property has been researched only to a small extent, especially as single-property data are hardly available. This study for the first time investigates the performance of direct property in Germany based on single-property data. Aims of...

This paper investigates whether IPO signals reveal proprietary information about the prospects of an issuing firm's underlying industry. By analyzing a sample of European property company (EPC) IPOs from 1997 to 2007, we take advantage of a heterogeneous set of industry performance measures,...

Purpose – The purpose of this paper is to provide evidence for the ongoing significant underpricing of European property IPOs. Design/methodology/approach – The paper provides recent evidence on underpricing for a comprehensive data set of 105 IPOs of European property companies. It starts...