We examine the determinants of debt maturity in the Australian capital market. The validity of traditional maturity theories is empirically examined using the Top 400 firms listed on the Australian Stock Exchange for the period 1996-2005. We find that Australian firms consider transaction costs...

Corporate debt maturity is a concave function of financial leverage when the debt has restrictive asset-based covenants attached. This concavity kicks in earlier with increasing covenant tightness and is absent when firms have no restrictive asset-based covenants. We argue that this concavity is...

We examine the determinants of debt maturity in the Australian capital market with the Top 400 firms listed on the Australian Securities Exchange for the period 1989 to 2006. We find that Australian firms not only exhibit a positive leverage-maturity relationship but also use short-term debt to...

The broad aim of this research is to develop a better understanding of the capital structure practices and processes of European real estate companies. The emphasis is on internal processes and the firmsí rationale for particular decision making behaviour. By capital structure processes and...

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...

Firms can choose a capital structure that maximises real risk-adjusted performance by matching nominal liabilities with nominal assets. In doing so, firms minimise the sensitivity of real risk-adjusted returns to unexpected inflationary shocks. We develop a model of real risk-adjusted...

We employ an original dataset of primary fund information to examine the performance of 162 global private equity real estate investment funds across the core, value-add and opportunistic investment style categories over the most recent property cycle (2001-2011). We employ a multi-factor asset...

A robust assessment of asymmetric dependence is crucial for determining the benefits of diversification associated with including real estate in mixed-asset portfolios, but analysing asymmetric dependence is a complex, multi-dimensional problem. Using Monte Carlo simulations, we identify the...