An empirical study of derivatives use in the REIT industry

Real Estate Economics

Volumn 27, Issue 3, 1999, Pages 561-586

  Horng, Yuh Sheng ^a   Wei, Peihwang ^b  

^a FENG CHIA UNIVERSITY   (Taiwan)

^b UNIVERSITY OF NEW ORLEANS   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0033246976     PISSN: 10808620     EISSN: None     Source Type: Journal    
DOI: 10.1111/1540-6229.00784     Document Type: Article

References (32)

1. Arak, M., A. Estrella, L. Goodman and A. Silver. 1988. Interest Rate Swaps: An Alternative Explanation. Financial Management 17(Summer): 12-18.
2. Berkman, H. and M. Bradbury. 1996. Empirical Evidence on the Corporate Use of Derivatives. Financial Management 25(Summer): 5-13.
3. Bessembinder, H. 1991. Forward Contracts and Firm Value: Investment Incentives and Contracting Effects. Journal of Financial and Quantitative Analysis 26: 519-532.
4. Block, S. and T. Gallagher. 1986. The Use of Interest Rate Futures and Options by Corporate Financial Managers. Financial Management 15(Autumn): 73-78.
5. Bodnar, G., G. Hayt and R. Marston. 1996. 1995 Wharton Survey of Derivatives Usage by U.S. Non-financial Firms. Financial Management 25(Winter): 113-133.
6. Bodnar, G., G. Hayt, R. Marston and C. Smithson. 1995. Wharton Survey of Derivatives Usage by U.S. Non-financial Firms. Financial Management 24(Summer): 104-114.
7. Chen, K.C. and D. Tzang. 1988. Interest-Rate Sensitivity of Real Estate Investment Trusts. The Journal of Real Estate Research 3: 13-22.
8. DeMarzo, P. and D. Duffie. 1995. Corporate Incentives for Hedging and Hedge Accounting. Review of Financial Studies 8: 743-771.
9. Fenn, G., M. Post and S. Sharpe. 1996. Debt Maturity and the Use of Interest Rate Derivatives by Nonfinancial Firms. Federal Reserve Board Capital Market Section.
10. Flannery, M. and C. James. 1984. The Effects of Interest Rate Changes on the Common Stock Returns of Financial Institutions. Journal of Finance 39: 1141-1153.
11. Froot, K., D. Scharfstein and J. Stein. 1993. Risk Management: Coordinating Investment and Financing Policies. Journal of Finance 48: 1629-1658.
12. Gȩczy, C., B. Minton and C. Schrand. 1997. Why Do Firms Use Currency Derivatives? Journal of Finance 52, 1323-1354.
13. Gorton, G. and R. Rosen. 1995. Banks and Derivatives. Working Paper. NBER.
14. Haushalter, G. 1997. The Role of Corporate Hedging: Evidence from Oil and Gas Producers. Working Paper. University of Oregon.
15. Li, H. 1998. Interest Rate Swaps and Corporate Borrowing Decisions. Working Paper. Cornell University.
16. Mayers, D. and C.W. Smith. 1982. On the Corporate Demand for Insurance. Journal of Business 55: 281-296.
17. Mian, S. 1996. Evidence on Corporate Hedging Policy. Journal of Financial and Quantitative Analysis 31: 419-439.
18. Myers, S.C. 1977. The Determinants of Corporate Borrowing. Journal of Financial Economics 5: 147-175.
19. Nance, D., C.W. Smith and C. Smithson. 1993. On the Determinants of Corporate Hedging. Journal of Finance 48: 267-284.
20. Samant, A. 1996. An Empirical Study of Interest Rate Swap Usage by Nonfinancial Corporate Business. Journal of Financial Services Research 10: 43-57.
21. Scott, W. and R. Peterson. 1986. Interest Rate Risk and Equity Values of Hedged and Unhedged Financial Intermediaries. Journal of Financial Research 9: 325-329.
22. Smith, C.W., C. Smithson and L. Wakeman. 1988. The Market for Interest Rate Swaps. Financial Management 17(Winter): 34-44.
23. Smith, C.W. and R. Stulz. 1985. The Determinants of Firms' Hedging Policies. Journal of Financial and Quantitative Analysis 20: 392-405.
24. Stulz, R. 1984. Optimal Hedging Policies. Journal of Financial and Quantitative Analysis 19: 127-140.
25. -. 1990. Managerial Discretion and Optimal Financing Policies. Journal of Financial Economics 26: 3-28.
26. Sweeney, R. and A. Warga. 1986. The Pricing of Interest-Rate Risk: Evidence from the Stock Market. Journal of Finance 41: 393-410.
27. Titman, S. 1992. Interest Rate Swaps and Corporate Financing Choices. Journal of Finance 47: 1503-1516.
28. Tufano, P. 1996. Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry. Journal of Finance 51: 1097-1137.
29. Wall, L. 1989. Interest Rate Swaps in an Agency Theoretical Model with Uncertain Interest Rates. Journal of Banking and Finance 13: 261-270.
30. Wall, L. and J. Pringle. 1989. Alternative Explanations for Interest Rate Swaps: A Theoretical and Empirical Analysis. Financial Management 18(Summer): 59-73.
31. Warner, J. 1977. Bankruptcy Costs: Some Evidence. Journal of Finance 32: 337-348.
32. Ziobrowski, A., B. Ziobrowski and S. Rosenberg. 1997. Currency Swaps and International Real Estate Investments. Real Estate Economics 25: 223-251.