The Impact of Financing Decisions on the Security Returns of Real Estate Corporations

Marcus T Allen and Ronald C Rutherford

The Journal of Real Estate Finance and Economics, 1992, vol. 5, issue 4, 393-400

Abstract: This research investigates the valuation impact of financing decisions on the common stock of real estate corporations. We compare the results of our study with the results of similar studies in the corporate finance literature to test whether the response to security offerings by real estate firms differs systematically from the response to offerings by industrial and utility firms. The results of this study indicate a generally favorable price response to straight bond announcements, and unfavorable responses to common stock, convertible bonds, and lines of credit announcements. Copyright 1992 by Kluwer Academic Publishers

Date: 1992
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The Journal of Real Estate Finance and Economics is currently edited by Steven R. Grenadier, James B. Kau and C.F. Sirmans

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