Articlehybrid2022

Property market liquidity and REIT liquidity

16 citations0/0 files storedReal Estate Economics

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Finance and Governance Financial Markets and Investment Strategies Financial Analysis and Corporate Governance

Abstract

Abstract This study examines the asset–stock liquidity relationship for firms with location‐specific assets. Using a sample of real estate investment trusts (REITs), we extend the concept of asset liquidity to include information based on local property market turnover. Our findings confirm that holding more cash increases REIT stock liquidity. More importantly, we find a positive relation between property market liquidity and REIT stock liquidity. This relation is stronger for REITs with lower growth opportunities, less information advantage, and greater financial constraints. Our findings also provide evidence that managers can actively influence stock liquidity through asset structure.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 16 citations exist upstream.

References

2002Illiquidity and stock returns: cross-section and time-series effects 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?1992Liquidation Values and Debt Capacity: A Market Equilibrium Approach 1999Home Bias at Home: Local Equity Preference in Domestic Portfolios 1984A Simple Implicit Measure of the Effective Bid-Ask Spread in an Efficient Market 1988Corporate Finance and Corporate Governance 2001Financial Constraints and Stock Returns 2008A New Measure of the Local Regulatory Environment for Housing Markets: The Wharton Residential Land Use Regulatory Index

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.