The financing structures of social housing corporations: an examination of disclosure quality in the annual reports

Tristan Brouwer () and Ralph ter Hoeven ()
Additional contact information
Tristan Brouwer: Rijksuniversiteit Groningen, Groningen, Netherlands
Ralph ter Hoeven: Rijksuniversiteit Groningen, Groningen, Netherlands

Maandblad Voor Accountancy en Bedrijfseconomie Articles, 2022, vol. 96, issue 11-12, 431-442

Abstract: This study examines the financing structures and the accompanying disclosures of social housing corporations. We found that in the period 2018–2021, the loans issued by the social housing corporations increased, while the overall interest costs decreased, leading to a lower cost of funding. In addition, we found that the social housing corporations favour fixed rate loans and the use of floating rate loans decreased. Most of these floating rate loans were hedged with derivatives, but the use of derivatives in general decreased with a significant amount. The disclosures related to the financing structures vary significantly in quality. The disclosures which can be improved relate to embedded derivatives, collateral requirements for derivatives, interest rate risk sensitivity analyses and the assumptions used for the fair value calculation.

Keywords: Social; housing; corporations; financing; structures; financial; instruments; DAS; 290; quality; of; disclosures (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://mab-online.nl/article/96127/

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arh:jmabec:v:96:y:2022:i:11-12:p:431-442

DOI: 10.5117/mab.96.96127

Access Statistics for this article

Maandblad Voor Accountancy en Bedrijfseconomie Articles is currently edited by Chris D. Knoops

More articles in Maandblad Voor Accountancy en Bedrijfseconomie Articles from Maandblad Voor Accountancy en Bedrijfseconomie
Bibliographic data for series maintained by Teodor Georgiev ().