STOCK-PRICE AND MANAGEMENT CHANGES - THE CASE OF REITS

Authors
MCINTOSH W ROGERS RC SIRMANS CF LIANG YG
Citation
W. Mcintosh et al., STOCK-PRICE AND MANAGEMENT CHANGES - THE CASE OF REITS, AREUEA journal, 22(3), 1994, pp. 515-526
Citations number
26
Categorie Soggetti
Planning & Development","Business Finance
Journal title
AREUEA journal → ACNP
ISSN journal
02700484
Volume
22
Issue
3
Year of publication
1994
Pages
515 - 526
Database
ISI
SICI code
0270-0484(1994)22:3<515:SAMC-T>2.0.ZU;2-4
Abstract
This paper examines the relationship between a Real Estate Investment Trust's (REIT's) stock returns and top management changes. The results indicate an inverse relationship between the probability of a managem ent change and a REIT's recent stock price performance. This is consis tent with internal monitoring of management activities by the board of directors, other top managers, or large block shareholders.