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文章基本信息

  • 标题:Corporate Governance and Capital Structure Decisions of UK Listed Real Estate Companies
  • 本地全文:下载
  • 作者:Precious Angelo Brenni
  • 期刊名称:Research Journal of Finance and Accounting
  • 印刷版ISSN:2222-1697
  • 出版年度:2014
  • 卷号:5
  • 期号:1
  • 页码:42-54
  • 语种:English
  • 出版社:The International Institute for Science, Technology and Education (IISTE)
  • 摘要:This paper examines how the capital structure decisions of UK listed real estate companies are influenced by some key corporate governance indicators. Using panel data methodology, it is documented that real estate companies with larger board sizes and greater CEO remunerations employ less leverage. There is also weak evidence showing a negative relationship between the proportion of outside directors and the level of leverage used. Additionally, there is evidence to show that there is generally no difference between REITs and Non-REITs regarding their respective leverage levels. This indicates that UK REITs may be highly geared contrary to expectations of lower debt levels. Overall, the results are relevant as they demonstrate that corporate governance impacts crucial corporate policy decisions such as those relating to capital structure even for such a unique industry as real estate.
  • 关键词:Corporate Governance; Capital Structure; Real Estate Companies; UK
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