Real estate accounts for 25 to 40 percent of the total assets of major U.S. corporations. Given the large investment, it is important to understand how decisions related to real estate assets affect firm value. This paper provides a review of the literature on the impact of real estate management decisions using evidence from the capital markets. The implications for corporate real estate decision makers are identified as are some of the unresolved issues.
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Rodríguez et al. (1996) studied this question.
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