Kohl, Nicolas and Schaefers, Wolfgang (2012) Corporate Governance and Market Valuation of Publicly Traded Real Estate Companies: Evidence from Europe. JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, 44 (3). pp. 362-393. ISSN 0895-5638,
Full text not available from this repository. (Request a copy)Abstract
With respect to the increasing significance of transparency and corporate governance, the study at hand investigates the impact of a broad set of principal corporate governance mechanisms on the market valuation of publicly traded real estate companies from the UK, France, the Netherlands and Germany, while addressing major econometric shortcomings of previous corporate governance studies, including omitted variable bias, endogeneity and reverse causality. The results of the analysis have important practical implications for strategic decision-making of both top-executives of publicly traded real estate companies as well as investors.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | INVESTMENT OPPORTUNITY SET; FIRM VALUE; CAPITAL STRUCTURE; SIMULTANEOUS-EQUATIONS; EMPIRICAL-ANALYSIS; BOARD SIZE; TOBINS-Q; PERFORMANCE; OWNERSHIP; LIQUIDITY; Corporate governance; Agency theory; Real estate capital markets; Firm valuation; Endogeneity; Three-stage least squares (3SLS) |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Immobilienenwirtschaft / IRE|BS |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 18 May 2020 07:19 |
| Last Modified: | 18 May 2020 07:19 |
| URI: | https://pred.uni-regensburg.de/id/eprint/19011 |
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