Insider Ownership and Firm Value: Evidence from Real Estate Investment Trusts

By Bing Han. 2006

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Corporate Governance and Performance: The REIT Effect (2010, unknown): “real estate investment trusts (REITs) operate changes the traditional principal–agent setting. Dividend payout maximization—in effect the reduction of the free cash flow problem as described by Jensen (1986)—is less of a concern for REITs, as U.”
The effects of stock liquidity on firm value and corporate governance: Endogeneity and the REIT experiment (2015, background): “4 See Ghosh and Sirmans (2003), Han (2006), Hartzell, Sun and Titman (2006), and Bianco, Ghosh, and Sirmans, (2007).”
An Analysis of REIT Security Issuance Decisions (2010, unknown): “Han (2006) argues that these information asymmetries are likely to be severe for REITs because monitoring a REIT involves local knowledge of the real estate market.”
The Role of Corporate Governance in Initial Public Offerings: Evidence from Real Estate Investment Trusts (2008, background): “The coefﬁcients on insider ownership are suggestive of the “roof-type” relation found in Mørck, Shleifer, and Vishny (1988) and Han (2006).”