Financial flexibility and security issuance decisions

• 主要作者: Wong, Woei Chyuan
• 格式: Conference or Workshop Item
• 語言: English
• 出版: 2014
• 主題: HG Finance
• 在線閱讀: http://repo.uum.edu.my/11581/1/F.pdf; http://repo.uum.edu.my/11581/; http://umconference.um.edu.my/

This paper examines the roles of financial flexibility in firms’ security issuance decisions.Focusing on Asian Real Estate Investment Trusts (REITs) that are subject to regulatory debt limit, we construct a direct proxy to financial flexibility measured as the difference between debt limit and actu...