Chen, Dong; Gao, Yanmin; Kaul, Mayank; Leung, Charles Ka Yui - 2015 - This version: January, 2015
This paper studies how the presence of sponsor and external management affect leverage and debt maturity decisions in three major Asian-Pacific REIT markets: Australia, Japan and Singapore. Our empirical results indicate that sponsored REITs opt for higher levels of leverage and loans with...