文章基本信息

标题：Role of Focus and Managerial Ownership in Financial Performance of REITs: An Empirical Examination
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作者：Turki Badi Al-Shimmiri ; Rafiqul Bhuyan ; Wafaa Sbeiti 等
期刊名称：Mutis
印刷版ISSN：2256-1498
出版年度：2017
卷号：9
期号：1
页码：81-105
出版社：Universidad Jorge Tadeo Lozano
摘要：In this research, we examine the effect of focus and managerial ownership on the financial performance of REITs. Results demonstrate a positive relationship between focus and financial performance in this sector that are consistent with the findings in current literature. Impact of managerial ownership, however, seems weak on REITs performance. Our findings provide direct support for the convergence-of-interests hypothesis. We also examine the curvilinear relationship between firm performance and managerial ownership already documented in the literature. Our results show that this relation is not supported in the REITs sector. Our results do not support the entrenchment hypothesis. In addition, when agency conflicts drive the increase in focus strategy is investigated, we find that the agency conflict explanation for increase in focus strategy is warranted.
关键词：REITs;Focus;Managerial Ownership;Performance