... institutional investors that had target allocations to fixed income were left underweight as a result of falling bond prices. Addressing this denominator effect drew capital away from real estate. A higher cost of debt also made real estate investments less attractive for investors that use leverage, causing...

...Michael Patrick; Nick French Purpose The aim of this briefing is to look at the often overlooked impact of gearing (or leverage) on risk. The positive impact on equity return in a strong market is gained by increasing the overall risk of the investment and potentially negative impacts on returns...

...Nick French; Michael Patrick Purpose The aim of this study is to comment upon the relatively straightforward but often misunderstood role of gearing (or leverage) on the potential equity return of a property investment portfolio. Design/methodology/approach This education briefing...

...Nick French Purpose The purpose of this paper is to comment upon the relatively straightforward but often misunderstood role of gearing (or leverage) on the potential equity return of a property investment. Design/methodology/approach This education briefing is an explanation of the upside...

... First, while tangibility of assets and crisis evidenced a positive relationship with REITs’ financial leverage, operating risk and growth opportunities variables displayed a negative relationship. Meanwhile, size and profitability did not appear to influence the capital structure. Second, it appears...

... – The analysis examines the hypothesis that discounts (premiums) are the result of leverage, size, liquidity, risk, performance, investment activity and sentiment. The regressions are initially run against the traditional NAV discount, subsequently using the unlevered NAV discount measure introduced by Morri...

... By Giacomo   Morri and Antonio   Mazza The Wiley Finance Series 2014 ISBN 1118764404 © Emerald Group Publishing Limited 2016 Emerald Group Publishing Limited licensed reuse rights only --> Leverage Basel accord Financial vehicles Loans Property finance Property value...

..., state-owned and non-state-owned, because their access to credit markets have different priority to state-owned banks that dominate bank lending. The difference-in-differences approach is employed to test the impact of changes in leverage ratios and loan ratios before and after the credit expansion...