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Journal of Real Estate Portfolio Management Volume 30, 2024 - Issue 1
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Research Article

Can at-the-Market Offerings Affect REIT Debt Maturity Choice?

Zhilu Lina David D. Reh School of Business at the Clarkson University, Potsdam, NY, USA
,
Wentao Wua David D. Reh School of Business at the Clarkson University, Potsdam, NY, USA
&
Suyan Zhengb David Nazarian College of Business and Economics at the California State University Northridge, Los Angeles, CA, USACorrespondence[email protected]
Pages 66-84 | Received 03 Oct 2022, Accepted 12 Aug 2023, Published online: 05 Sep 2023

References

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  • Billett, M. T., Floros, L. V., & Garfinkel, J. A. (2019). At-the-market offerings. Journal of Financial and Quantitative Analysis, 54(3), 1263–1283. https://doi.org/10.1017/S0022109018000893
  • Boudry, W. I., Kallberg, J. G., & Liu, C. H. (2010). An analysis of reit security issuance decisions. Real Estate Economics, 38(1), 91–120. https://doi.org/10.1111/j.1540-6229.2009.00255.x
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  • Cashman, G. D., Harrison, D. M., Howton, S., & Scheick, B. (2023). The cost of financial flexibility: Information opacity, agency conflicts, and reit at-the-market (ATM) equity offerings. Journal of Real Estate Finance and Economics, 66, 505–541.
  • Chen, H., Xu, Y., & Yang, J. (2021). Systematic risk, debt maturity, and the term structure of credit spreads. Journal of Financial Economics, 139(3), 770–799. https://doi.org/10.1016/j.jfineco.2020.09.002
  • Custódio, C., Ferreira, M. A., & Laureano, L. (2013). Why are US firms using more short-term debt? Journal of Financial Economics, 108(1), 182–212. https://doi.org/10.1016/j.jfineco.2012.10.009
  • Giambona, E., Harding, J. P., & Sirmans, C. F. (2008). Explaining the Variation in REIT Capital Structure: The Role of Asset Liquidation Value. Real Estate Economics, 36(1), 111–137. https://doi.org/10.1111/j.1540-6229.2008.00209.x
  • Hartzell, D. J., Howton, S. D., Howton, S. W., & Scheick, B. (2019). Financial flexibility and at‐the‐market (ATM) equity offerings: Evidence from real estate investment trusts. Real Estate Economics, 47(2), 595–636. https://doi.org/10.1111/1540-6229.12131
  • Heckman, J. J., & Navarro-Lozano, S. (2004). Using matching instrumental variables and control functions to estimate economic choice models. Review of Economics and Statistics, 86, 30–57. https://doi.org/10.1162/003465304323023660
  • Strebulaev, I., & Yang, B. (2013). The mystery of zero-leverage firms. Journal of Financial Economics, 109, 1–23. https://doi.org/10.1016/j.jfineco.2013.02.001

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