Eres : Digital Library : Works

Paper eres2010_701:
ON THE RELATIONSHIP BETWEEN LEVERAGE AND DEBT MATURITY FOR US REAL ESTATE FIRMS

id eres2010_701
authors Alcock, Jamie ; Steiner, Eva; Keng Tan, Kelvin Jui
year 2010
title ON THE RELATIONSHIP BETWEEN LEVERAGE AND DEBT MATURITY FOR US REAL ESTATE FIRMS
source 17th Annual European Real Estate Society Conference in Milan, Italy
summary The leverage and debt maturity decisions of real estate firms are related. However, most empirical capital structure studies implicitly assume that they are made independently. We explore both these dimensions of capital structure in US real estate companies and REITs and find that leverage and maturity are indeed related, but that the nature of this relationship varies significantly between REITs and non-REITs. Further, we explore the firm-specific and market-wide determinants of leverage and maturity in US real estate firms and REITs. While the determinants of leverage are similar for REITs and non-REITs, the determinants of maturity differ substantially between REITs and non-REITs.
keywords capital structure, REITs, indirect investment
series ERES:conference
email Eva.Steiner@lasalle.com
more http://www.eres2010.org/index.asp?page=papers_download
content file.ppt (518,656 bytes)
discussion No discussions. Post discussion ...
ratings
session Indirect Real Estate Investment (1)
last changed 2010/08/04 20:47
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