... proxies for information asymmetries between REITs and investors to determine IPO underpricing. This study, however, proposes textual analysis to exploit the qualitative information, revealed through one of the most important documents during the IPO process – Form S-11 – as a direct measure of information...

... This research conducts textual analysis on a sample of approximately 6,500 MD&As of US REITs filed by the SEC between 2003 and 2018. Specifically, the Loughran and Mcdonald (2011) financial dictionary, and a custom dictionary for the real estate industry created by Ruscheinsky et al. (2018...

...Jessica Roxanne Ruscheinsky; Marcel Lang; Wolfgang Schäfers Purpose The purpose of this paper is to determine systematically the broader relationship between news media sentiment, extracted through textual analysis of articles published by leading US newspapers, and the securitized real estate...

... for the London West End market. Finally, textual analysis based on word lists has been applied to corpus of market reports. Findings The results indicate considerable improvement in the authors’ ability to capture the effect of sentiment. Furthermore, the consideration of a human factor leads to improvement...