Capital Structure and the Cost of Capital for Untaxed Firms: The Case of REITs

REITs offer the opportunity to examine the relationship between capital structure and cost of capital in the absence of corporate earnings taxes. The evidence supports the leverage clientele effect as the motivation for the use of financial leverage by REITs. Copyright American Real Estate and Urban Economics Association.

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Year of publication:	1990
Authors:	Marts, Brian A. ; Elayan, Fayez A.
Published in:	Real Estate Economics. - American Real Estate and Urban Economics Association - AREUEA. - Vol. 18.1990, 1, p. 22-39
Publisher:	American Real Estate and Urban Economics Association - AREUEA

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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