• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>The Journal of real estate finance and economics >On The Operating Performance of REITs Following Seasoned Equity Offerings: Anomaly Revisited
【24h】

On The Operating Performance of REITs Following Seasoned Equity Offerings: Anomaly Revisited

机译：经验丰富的股票发行后房地产投资信托基金的运营绩效：异常重新审视

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

We examine the operating performance of equity REITs following seasoned equity offerings from 1990-2007. This study uses a variety of measures of operating cash flow and documents improvements in industry-adjusted operating performance prior to issue and a statistically significant decline in these measures after issuance. The deterioration in operating performance of REITs is similar in magnitude to that found for industrial firms in prior studies. We find evidence of mean reversion in operating performance and timing by issuing firms, and that information asymmetry plays an important role in the results. Notably, in using a longer sample period and a variety of cash flow measures and benchmarks, this study finds evidence that is in contrast to results found in an earlier analysis of REIT operating performance.
机译：在1990年至2007年期间，我们研究了股票投资信托的运营情况。这项研究使用了各种经营现金流量的指标，并在发行前记录了行业调整后的经营业绩的改善情况，以及发行后这些指标在统计​​上的显着下降。 REITs经营业绩的下降幅度与先前研究中工业公司的下降幅度相似。我们发现，发行公司在经营业绩和时机上均值回归的证据，而且信息不对称在结果中起着重要作用。值得注意的是，在使用更长的样本时间以及各种现金流量指标和基准的情况下，本研究发现的证据与早期对REIT运营绩效的分析结果相反。

著录项

  • 来源
  • 作者

    Chinmoy Ghosh; Scott Roark; C. F. Sirmans;

  • 作者单位

    Department of Finance, Gladstein Professor of Business and Innovation, School of Business,University of Connecticut, Storrs, CT, USA;

    Department of Marketing and Finance, College of Business and Economics, Boise State University,Boise, ID, USA;

    Department of Risk Management/Insurance, Real Estate & Business Law, Florida State University, Tallahassee, FL, USA;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Seasoned equity offerings; Operating performance; REITs;

    机译：经验丰富的股票发行;经营业绩;房地产投资信托;

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号