This study examines the market value of total, mandatory, and discretionary REIT dividends and supports dividend relevance. Consistent with agency cost theory, the results show dividends paid by REITs with greater potential agency conflicts have greater market value. Discretionary dividends paid...

This study examines the market value of REIT dividends conditional on transparency of operating structure and effectiveness of boards. Results suggest that total, mandatory and discretionary dividends are valued by the market. Consistent with agency cost theory, results provide some evidence...

Using a data source extensively researched in the equity IPO literature but not yet examined in the context of corporate debt maturity, we document the maturity of 10,617 corporate debt issues placed by U.S. corporations in public markets between January 1, 1983 and December 31, 1999. We...