Graduation Year
2023
Date of Submission
12-2022
Document Type
Campus Only Senior Thesis
Degree Name
Bachelor of Arts
Department
Economics
Reader 1
Florian Madison
Terms of Use & License Information
Rights Information
© 2022 Nicholas B Maurice
Abstract
A great deal of work has been done to study the effect of market leverage ratio on REIT performance. However, there has been little attention paid to studying the capital structure determinants of REIT market leverage ratios. Given popular theories on capital structures, REITs tax incentive structure should indicate its lower usage of leverage as a ratio of market capitalization. Using recent data, this paper investigates the effect of key capital structure determinants and sectorial on REIT market leverage ratio. The paper finds significant capital structure determinant and sectorial effects on market leverage ratio, indicating endogenous influences on use of leverage.
Recommended Citation
Maurice, Nick, "Analysis of REIT Capital Structure on Market Leverage Ratio" (2023). CMC Senior Theses. 3145.
https://scholarship.claremont.edu/cmc_theses/3145
This thesis is restricted to the Claremont Colleges current faculty, students, and staff.
