Textual Analysis of REIT IPO Prospectuses: Quantifying Company Rhetoric as an Indicator of Underpricing
This paper contributes to the existing body of literature in several ways. First, we contribute to the literature on textual analysis. This is the first paper in the real estate literature that analyzes the relationship between qualitative information in a sample of IPO prospectuses of US REIT companies and initial returns.
KeywordsReal Estate Corporate Governance Textual Analysis Real Estate Investment Trust Initial Return
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