Debt Conservatism and Debt-Equity Choices: Evidence from REITs’ Unused Debt Capacity
We infer debt conservatism behavior by examining how REITs adjust towards their debt capacity following a capital issue or repurchase decision. It is observed that REITs with high unused debt capacity tend to issue equity which renders them more underleveraged for at least two consecutive years. The...
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| Format: | Article |
| Language: | English |
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Universiti Utara Malaysia
2017
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| Online Access: | http://repo.uum.edu.my/24955/1/IJBF%20%2013%20%201%202017%201%2028.pdf http://repo.uum.edu.my/24955/ http://ijbf.uum.edu.my/index.php/latest-ijbf-issue |
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| Institution: | Universiti Utara Malaysia |
| Language: | English |