The disclosure behaviour of REITs and its consequences
No Thumbnail Available
Files
bachelor_Sive_Julia_2024.pdf (256.74 KB) (opens in new window)
Aalto login required (access for Aalto Staff only).
URL
Journal Title
Journal ISSN
Volume Title
School of Business |
Bachelor's thesis
Electronic archive copy is available locally at the Harald Herlin Learning Centre. The staff of Aalto University has access to the electronic bachelor's theses by logging into Aaltodoc with their personal Aalto user ID. Read more about the availability of the bachelor's theses.
Unless otherwise stated, all rights belong to the author. You may download, display and print this publication for Your own personal use. Commercial use is prohibited.
Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
Laskentatoimi
Language
en
Pages
27
Series
Abstract
Real estate investment trusts (REITs) are companies that own and operate income-generating real estate. They operate in a unique tax and regulatory environment. REITs are required to pay most of their income as dividends and thus they able to avoid corporate level income taxation. For this reason, REITs need to access the capital markets often. Transparency and disclosures are particularly important for REITs as they help lower the costs of external capital. If information asymmetry is high, raising external capital is going to be more difficult. Hence, REITs have strong incentives for increased disclosure quality. REITs with greater transparency have a better performance. The transparency of REITs is higher when disclosure is more detailed and higher quality. REITs increase their disclosure especially around capital market accessing in order to lower the costs of capitalDescription
Thesis advisor
Pham, LyKeywords
REIT, disclosure, transparency, information asymmetry