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Stock Market Response to Voluntary Liquidations and Reorganizations of Real Estate Corporations

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  • Fayez A. Elayan
  • Brian A. Maris

Abstract

Announcements of voluntary liquidation or reorganization by real estate corporations are analyzed. There is a positive stock price response to announcement of liquidation, and a negative stock price response to announcements of reorganization. Results were the same before and after the 1978 Bankruptcy Reform Act took affect. Copyright American Real Estate and Urban Economics Association.

Suggested Citation

  • Fayez A. Elayan & Brian A. Maris, 1991. "Stock Market Response to Voluntary Liquidations and Reorganizations of Real Estate Corporations," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(1), pages 92-101.
  • Handle: RePEc:bla:reesec:v:19:y:1991:i:1:p:92-101
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/1540-6229.00542
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    Cited by:

    1. John B. Corgel, 1997. "Property-by-Property Valuation of Publicly Traded Real Estate Firms," Journal of Real Estate Research, American Real Estate Society, vol. 14(1), pages 77-90.

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