The House Price Impacts of Corporate Headquarter Relocations
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The Department of Finance seeks to provide knowledge of the descriptive, behavioral, and analytical background of financial management, in preparation for positions in sales management, marketing research, retail, etc.
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The Department of Finance was formed in 1984 in the College of Business Administration (later College of Business).
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1984–present
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The Symposium provides undergraduates from all academic disciplines with an opportunity to share their research with the university community and other guests through conference-style oral presentations. The Symposium represents part of a larger effort of Iowa State University to enhance, support, and celebrate undergraduate research activity.
Though coordinated by the University Honors Program, all undergraduate students are eligible and encouraged to participate in the Symposium. Undergraduates conducting research but not yet ready to present their work are encouraged to attend the Symposium to learn about the presentation process and students not currently involved in research are encouraged to attend the Symposium to learn about the broad range of undergraduate research activities that are taking place at ISU.
The first Symposium was held in April 2007. The 39 students who presented research and their mentors collectively represented all of ISU's Colleges: Agriculture and Life Sciences, Business, Design, Engineering, Human Sciences, Liberal Arts and Sciences, Veterinary Medicine, and the Graduate College. The event has grown to regularly include more than 100 students presenting on topics that span the broad range of disciplines studied at ISU.
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Abstract
This project examines the house price impacts of corporate headquarter relocations. Corporate relocations potentially impact house prices through the increase or decrease in local economic activity that results from the relocation event. Using a difference in differences approach, I compare the impacts of a relocation on a metropolitan statistical area (MSA) house prices to similar metropolitan statistical areas house prices that have not seen relocations by corporations. Local house price indexes from the Federal Housing Finance Agency (FHFA) are used to examine changes in house prices at the MSA level to gauge a relocation effect. Data on the housing market characteristics from the U.S. Census Bureau is used to create a sample of comparison cities. Analysis is conducted using data before and after a relocation to analyze house prices appreciation rate impacts from a corporation’s headquarter relocation or merger during the 2000 to 2015 time period. It is expected that data will indicate a negative effect due to the exit of a firm and a boost to the local economy that receives a firm’s new headquarters.