building retailer equity increases revenue and profitability by insulating retailers from competitors. store image is the basis of retailer equity, but extant literature offers little in sight in to the empirical research which takes store image dimensions as antecedents of retailer equity. this paper establishes a theoretical and empirical basis that shows the impact of selected store image di...

The first section of this study tests an investment strategy of buying non-IPO (seasoned) equity REITs as opposed to purchasing equity REIT IPOs. 'Seasoned', as defined in this study, is an interval of time after the REIT IPO date. To test this investment strategy, monthly returns on an equally-weighted index of 66 equity REITs were analyzed. These equity REITs traded on the major stock exchang...

We test whether equity overvaluation affects corporate financing decisions using an ex ante misvaluation measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing by firms increase with equity overvaluation; but only among overvalued stocks. Also consistent with behavioral theories, we find that the sensitivity of equity issuance to...

The construct of equity sensitivity describes an individual's preference about his/her desired input to outcome ratio. Individuals high on equity sensitivity tend to be more input oriented, and are often called "Benevolents." Individuals low on equity sensitivity are more outcome oriented, and are described as "Entitleds." Given that equity sensitivity has often been described as a trait, the p...

This paper investigates the impact of the heterogeneity of the labor force on the spatial distribution of activities. This goal is achieved by applying the tools of discrete choice theory to an economic geography model. We show that taste heterogeneity acts as a strong dispersion force. We also show that the relationship between the spatial distribution of the industry (the wage differential) a...

A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite permutations, and respects the Pareto ordering; an ethical preference relation, for short. This paper arg...

Using a proprietary dataset of institutional investors’ equity transactions, we document that institutional trading desks can sustain relative performance over adjacent periods. We find that trading-desk skill is positively correlated with the performance of the institution’s traded portfolio, suggesting that institutions that invest resources in developing execution abilities also invest in ge...

What are individuals’ preferences over the payoffs of others? We show that individuals aim to achieve equity among other agents but that they narrowly bracket their equity concerns — they equalize time budgets or monetary budgets at the expense of equalizing overall budgets. Indeed, individuals believe that achieving equity within narrow brackets is more socially appropriate than achieving over...