Shareholder Wealth Effects of Real Estate Management Turnover
Posted: 7 Mar 1997
Date Written: November 1996
Abstract
The first examination of shareholder wealth effects of top real estate management turnover is provided. The evidence supports the notion that real estate managers possess firm-specific human capital through knowledge of their firms' real estate holdings. Companies that announce top real estate management turnover experience, on average, significant negative abnormal returns. However, similar to other firms, the market reaction for real estate firms varies according to the type of management change being examined.
JEL Classification: R52
Suggested Citation: Suggested Citation
C. F. Sirmans
Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law ( email )
Tallahasse, FL 32306
United States
850 644-4076 (Phone)
HOME PAGE: http://www.cob.fsu.edu/rmi