... corporate real estate investment and firm performance in an undeveloped market, Pakistan. Design/methodology/approach The study uses robust regression analyses that account for unobserved heterogeneity and endogeneity issues using fixed effects, generalized method of moments and sample matching...

... to account for potential heteroskedasticity, effects of unobserved variables and endogeneity. Findings This study finds that as the investment in CRE increases, the firm’s performance decreases. The findings are robust to alternative proxies of CRE investment and alternative methodologies. Furthermore...