The relationship with REITs and bank loans: Capital structure perspectives

Title	The relationship with REITs and bank loans: Capital structure perspectives
Creator	陳明吉 Hung, Chih-Hsing;Chen, Ming-Chi;Lin, Wen-Yuan
Contributor	財管系
Key Words	Capital structure;Mortgage;Trade-off theory;Risk premium;Loan-to-value
Date	2014-06
Date Issued	17-Nov-2014 10:52:29 (UTC+8)
Summary	This paper discusses a research strategy which determines the optimum capital structure strategy and sets a reasonable required return of two-dimensional mortgages for borrowers and lenders with trade-off theory. We derived the optimum capital structure strategy of REITs and assess the mortgage risk premiums for lender. The results indicate that the REITs should maximize the value themselves by adjusting the optimum loan-to-value, make the most efficient use of the money. The lenders should seek borrowers who can pay mortgage interest continuously. At the same time, by maximizing mortgage premiums, they can set strategic objectives.
Relation	Finance Research Letters, 11(2), 140-152
Type	article

dc.contributor	財管系	en_US
dc.creator (作者)	陳明吉	zh_TW
dc.creator (作者)	Hung, Chih-Hsing;Chen, Ming-Chi;Lin, Wen-Yuan	en_US
dc.date (日期)	2014-06	en_US
dc.date.accessioned	17-Nov-2014 10:52:29 (UTC+8)	-
dc.date.available	17-Nov-2014 10:52:29 (UTC+8)	-
dc.date.issued (上傳時間)	17-Nov-2014 10:52:29 (UTC+8)	-
dc.identifier.uri (URI)	http://nccur.lib.nccu.edu.tw/handle/140.119/71499	-
dc.description.abstract (摘要)	This paper discusses a research strategy which determines the optimum capital structure strategy and sets a reasonable required return of two-dimensional mortgages for borrowers and lenders with trade-off theory. We derived the optimum capital structure strategy of REITs and assess the mortgage risk premiums for lender. The results indicate that the REITs should maximize the value themselves by adjusting the optimum loan-to-value, make the most efficient use of the money. The lenders should seek borrowers who can pay mortgage interest continuously. At the same time, by maximizing mortgage premiums, they can set strategic objectives.	en_US
dc.format.extent	797284 bytes	-
dc.format.mimetype	application/pdf	-
dc.language.iso	en_US	-
dc.relation (關聯)	Finance Research Letters, 11(2), 140-152	en_US
dc.subject (關鍵詞)	Capital structure;Mortgage;Trade-off theory;Risk premium;Loan-to-value	en_US
dc.title (題名)	The relationship with REITs and bank loans: Capital structure perspectives	en_US
dc.type (資料類型)	article	en