In this article, we examine the impact of asset growth rates on the future stock performance of 308 publicly traded real estate investment trusts (REITs). We observe that fast-growing REITs tend to underperform slow growing REITs. However, we find evidence that the growth effect is significantly less negative for REITs selling at a premium to net asset value. In addition, we observe the asset growth effect only in the subsample of REITs that engages in equity issuance over the next 12 months. The combined evidence suggests contemporaneous equity dilution, which has not been considered in previous studies, may provide an explanation for the underperformance of fast-growing firms.

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How to combine big data (BD) technology with specific applications in the tourism industry to achieve sustainable development in the tourism industry is a development issue that needs to be addressed in the tourism industry today. In order to promote the development of smart tourism, this text constructed a BD mining model for sustainable smart tourism. In this paper, based on tourism data from 2010 to 2021, a regression model and an exponential curve model are constructed to forecast passenger traffic, and a tourism spatial dimension model is constructed to build a tourism data table, pre-process the data and construct a data mining (DM) model using a SQL Server model. The experimental part of the study conducts experimental research on cities applying smart tourism DM technology in three areas: foreign exchange earnings from the city’s tourism industry, jobs in the tourism industry and the development of tourism-related industries. The results showed that the application of smart tourism DM technology can improve the foreign exchange income (FEI) of urban tourism, increase employment in tourism and drive the development of tourism-related industries. Compared with 2010, the tourism FEI of the four cities would increase by more than 70% in 2021.

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