Advanced Search
MyIDEAS: Login to save this article or follow this journal

Stock Price and Management Changes: The Case of REITs

Contents:

Author Info

  • Willard Mclntosh
  • Ronald C. Rogers
  • C. F. Sirmans
  • Youguo Liang
Registered author(s):

    Abstract

    This paper examines the relationship between a Real Estate Investment Trust's (REIT's) stock returns and top management changes. The results indicate an inverse relationship between the probability of a management change and a REIT's recent stock price performance. This is consistent with internal monitoring of management activities by the board of directors, other top managers, or large block shareholders. Copyright American Real Estate and Urban Economics Association.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/1540-6229.00646
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.

    Volume (Year): 22 (1994)
    Issue (Month): 3 ()
    Pages: 515-526

    as in new window
    Handle: RePEc:bla:reesec:v:22:y:1994:i:3:p:515-526

    Contact details of provider:
    Postal: Indiana University, Kelley School of Business, 1309 East Tenth Street, Suite 738, Bloomington, Indiana 47405
    Phone: (812) 855-7794
    Fax: (812) 855-8679
    Email:
    Web page: http://www.blackwellpublishing.com/journal.asp?ref=1080-8620
    More information through EDIRC

    Order Information:
    Web: http://www.blackwellpublishing.com/subs.asp?ref=1080-8620

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Greg Hallman & Jay C. Hartzell, 1999. "Optimal Compensation Contracts with Pay-For-Performance and Termination Incentives," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-053, New York University, Leonard N. Stern School of Business-.
    2. Bendeck, Yvette M. & Waller, Edward R., 1999. "The Wealth Effects of Non-Senior Management Departures from Investment Banks," Journal of Business Research, Elsevier, vol. 46(1), pages 95-105, September.
    3. Joseph L. Pagliari, Jr. & James R. Webb, 1995. "A Fundamental Examination of Securitized and Unsecuritized Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 10(4), pages 381-426.
    4. G. Stacy Sirmans & H. Swint Friday & Russell M. Price, 2006. "Do Management Changes Matter? An Empirical Investigation of REIT Performance," Journal of Real Estate Research, American Real Estate Society, vol. 28(2), pages 131-148.
    5. H. Swint Friday & G. Stacy Sirmans, 1998. "Board of Director Monitoring and Firm Value in REITs," Journal of Real Estate Research, American Real Estate Society, vol. 16(3), pages 411-427.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:bla:reesec:v:22:y:1994:i:3:p:515-526. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.