Hong Kong and REITs (as defined in the REIT Guidance Note) with a primary listing of their units in Hong Kong. Subject to the factors in section 4.2 below, the Codes may apply to REITs listed in Hong Kong other than by way of a primary listing. As a result, although it is ge...
Our sample is from the quarterly CRSP-Compustat merged database between the first quarter of 1983, which is the quarter before the first ATP law was passed, and the first quarter of 2020. We exclude regulated utility firms (Standard Industrial Classification (SIC) codes 4900 to 4999), financia...