infonet-economy

Institutional investors such as pension funds or insurance companies commonly invest in the unsecuritized and securitized real estate market. We investigate how institutional investor sentiment in the commercial real estate market affects institutional trading behavior in the REIT market and subsequently asset pricing. In particular, we test two alternative theories - flight to…

Ucits were a series of directives issued by the European Commission whose aim was the facilitation of cross-border marketing and selling of collective investment schemes. This regulatory framework has recently gained popularity as an investment vehicle for hedge fund strategies. This trend can be explained in part by customers shying away from direct investments into hedge funds and…

There is mounting interest on all aspects related to management innovation, as evidence shows firms relying on this source of innovation are better set to cope with market competition. HRM function is deemed to play a fundamental role in securing innovative organizational activities. Yet, much research is needed to disentangle the relationship between the HRM function and this source…

We examine if online information search trends reflect public interest in purchasing hotel rooms. We introduce the trends into univariate forecasting models and conventional structural models of room night stays and occupancy rates. We also examine the association between the trends and hotel REIT stock returns. We find that on a monthly frequency, search trends are significantly…

This article analyses founding family influence on pay-out policies for Swiss listed firms over the period 2003–2010. We hypothesise that family firms have different incentives and characteristics that affect pay-out decisions and propose three possible explanations: agency theory, reputation building and family income needs. Our results show that founding family firms display…