Capital Structure and the Cost of Capital for Untaxed Firms: The Case of REITs
作者:
Brian A. Marts,
Fayez A. Elayan,
期刊:
Real Estate Economics
(WILEY Available online 1990)
卷期:
Volume 18,
issue 1
页码: 22-39
ISSN:1080-8620
年代: 1990
DOI:10.1111/1540-6229.00507
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
REITs offer the opportunity to examine the relationship between capital structure and cost of capital in the absence of corporate earnings taxes. The evidence supports the leverage clientele effect as the motivation for the use of financial leverage by REITs.
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