Abstract
The purpose of this paper is to investigate an important corporate governance issue: How does the advisor structure affect the leverage of real estate investment trusts (REITs). Advisors are expected to pursue personal goals, such as the maximization of their compensation and personal assets. If these personal goals of the advisors are not aligned with shareholder wealth maximization, agency conflicts may arise. Observing how the capital structure varies in conjunction with the advisor structure can identify such agency conflicts.
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© 2016 Springer Fachmedien Wiesbaden
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Striewe, N. (2016). Corporate Governance and the Leverage of REITs: The Impact of the Advisor Structure. In: Corporate Governance of Real Estate Investment Trusts. Essays in Real Estate Research. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-11619-4_3
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DOI: https://doi.org/10.1007/978-3-658-11619-4_3
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Publisher Name: Springer Gabler, Wiesbaden
Print ISBN: 978-3-658-11618-7
Online ISBN: 978-3-658-11619-4
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