Debt, Agency and Management Contracts in REITs: The External Advisor Puzzle

作者: Dennis R. Capozza , Paul J. Seguin

DOI: 10.2139/SSRN.91410

关键词:

摘要: … We posit that compensating managers based on either assets under management or on property-level cash flows creates incentives for managers to increase the asset base by issuing …

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