Sponsor backing in Asian REIT IPOs

• المؤلفون الرئيسيون: Wong, Woei Chyuan, Ong, Seow-Eng, Ooi, Joseph T. L.
• التنسيق: مقال
• منشور في: Springer US 2013
• الموضوعات: HG Finance
• الوصول للمادة أونلاين: http://repo.uum.edu.my/15427/; http://doi.org/10.1007/s11146-011-9336-x

This paper tests the significance of sponsors in REIT IPOs viz-a-viz quality certification, signal of firm value, and commitment to alleviate moral hazard concerns. We model the REIT pricing and sponsor share retention decisions within a simultaneous decision framework as motivated by Grinblatt and...