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題名 Banking Relationships and Financing Decisions of REITs
作者 張元晨
Chang, Yuanchen;Hsieh, Yi-Ting;Seah, Kiat Ying
貢獻者 財管系
關鍵詞 Bank lending relationship; REITs; Cross-country
日期 2024-03
上傳時間 24-Sep-2025 09:54:03 (UTC+8)
摘要 Banking relationships are key factors that influence the financing decisions of real estate investment trusts (REITs) which are mandated to hold highly specific assets. Using a comprehensive data set of loan facilities by REITs across different markets, this paper empirically tests the effect of REIT-bank relationships on credit costs and other non-price credit terms. We find that REITs with past banking relationships enjoy favorable loan terms that include lower loan rates, higher loan amount, and a less stringent collateral requirement. These favorable terms were kept by relationship banks during the global financial crisis from 2007 to 2009.
關聯 International Real Estate Review, Vol.27, No.1, pp.1-32
資料類型 article
dc.contributor 財管系
dc.creator (作者) 張元晨
dc.creator (作者) Chang, Yuanchen;Hsieh, Yi-Ting;Seah, Kiat Ying
dc.date (日期) 2024-03
dc.date.accessioned 24-Sep-2025 09:54:03 (UTC+8)-
dc.date.available 24-Sep-2025 09:54:03 (UTC+8)-
dc.date.issued (上傳時間) 24-Sep-2025 09:54:03 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/159644-
dc.description.abstract (摘要) Banking relationships are key factors that influence the financing decisions of real estate investment trusts (REITs) which are mandated to hold highly specific assets. Using a comprehensive data set of loan facilities by REITs across different markets, this paper empirically tests the effect of REIT-bank relationships on credit costs and other non-price credit terms. We find that REITs with past banking relationships enjoy favorable loan terms that include lower loan rates, higher loan amount, and a less stringent collateral requirement. These favorable terms were kept by relationship banks during the global financial crisis from 2007 to 2009.
dc.format.extent 159 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) International Real Estate Review, Vol.27, No.1, pp.1-32
dc.subject (關鍵詞) Bank lending relationship; REITs; Cross-country
dc.title (題名) Banking Relationships and Financing Decisions of REITs
dc.type (資料類型) article