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Clawback Provisions In Real Estate Investment Trusts

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  • George D. Cashman
  • David M. Harrison
  • Christine A. Panasian

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  • George D. Cashman & David M. Harrison & Christine A. Panasian, 2016. "Clawback Provisions In Real Estate Investment Trusts," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 39(1), pages 87-114, March.
    • Handle: RePEc:bla:jfnres:v:39:y:2016:i:1:p:87-114
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    File URL: http://hdl.handle.net/10.1111/jfir.12090
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    References listed on IDEAS

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    1. Denis, Diane K., 2012. "Mandatory clawback provisions, information disclosure, and the regulation of securities markets," Journal of Accounting and Economics, Elsevier, vol. 54(2), pages 197-200.
    2. Kallberg, Jarl G. & Liu, Crocker L. & Trzcinka, Charles, 2000. "The Value Added from Investment Managers: An Examination of Funds of REITs," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 35(3), pages 387-408, September.
    3. Chan, Lilian H. & Chen, Kevin C.W. & Chen, Tai-Yuan, 2013. "The effects of firm-initiated clawback provisions on bank loan contracting," Journal of Financial Economics, Elsevier, vol. 110(3), pages 659-679.
    4. Faleye, Olubunmi, 2007. "Classified boards, firm value, and managerial entrenchment," Journal of Financial Economics, Elsevier, vol. 83(2), pages 501-529, February.
    5. David M. Harrison & Christine A. Panasian & Michael J. Seiler, 2011. "Further Evidence on the Capital Structure of REITs," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 39(1), pages 133-166, March.
    6. Chan, Lilian H. & Chen, Kevin C.W. & Chen, Tai-Yuan & Yu, Yangxin, 2012. "The effects of firm-initiated clawback provisions on earnings quality and auditor behavior," Journal of Accounting and Economics, Elsevier, vol. 54(2), pages 180-196.
    7. Jay C. Hartzell & Jarl G. Kallberg & Crocker H. Liu, 2008. "The Role of Corporate Governance in Initial Public Offerings: Evidence from Real Estate Investment Trusts," Journal of Law and Economics, University of Chicago Press, vol. 51(3), pages 539-562, August.
    8. Bartley R. Danielsen & David M. Harrison & Robert A. Van Ness & Richard S. Warr, 2009. "REIT Auditor Fees and Financial Market Transparency," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(3), pages 515-557, September.
    9. Bebchuk, Lucian A. & Cohen, Alma, 2005. "The costs of entrenched boards," Journal of Financial Economics, Elsevier, vol. 78(2), pages 409-433, November.
    10. Bing Han, 2006. "Insider Ownership and Firm Value: Evidence from Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 32(4), pages 471-493, June.
    11. Zhilan Feng & Chinmoy Ghosh & C. Sirmans, 2007. "On the Capital Structure of Real Estate Investment Trusts (REITs)," The Journal of Real Estate Finance and Economics, Springer, vol. 34(1), pages 81-105, January.
    12. Ko Wang & John Erickson & George W. Gau, 1993. "Dividend Policies and Dividend Announcement Effects for Real Estate Investment Trusts," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 21(2), pages 185-201, June.
    13. Coles, Jeffrey L. & Daniel, Naveen D. & Naveen, Lalitha, 2006. "Managerial incentives and risk-taking," Journal of Financial Economics, Elsevier, vol. 79(2), pages 431-468, February.
    14. Danny Ben-Shahar & Eyal Sulganik & Desmond Tsang, 2011. "Funds from Operations Versus Net Income: Examining the Dividend-Relevance of REIT Performance Measures," Journal of Real Estate Research, American Real Estate Society, vol. 33(3), pages 415-442.
    15. Walter I. Boudry & Jarl G. Kallberg & Crocker H. Liu, 2010. "An Analysis of REIT Security Issuance Decisions," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(1), pages 91-120, March.
    16. Linda Allen & Guangzhong Li, 2011. "Clawbacks and Cronyism: Evidence from China," Financial Management, Financial Management Association International, vol. 40(3), pages 733-756, September.
    17. Shleifer, Andrei & Vishny, Robert W, 1988. "Value Maximization and the Acquisition Process," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 7-20, Winter.
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    Cited by:

    1. Daoju Peng & Jianfu Shen & Simon Yu Kit Fung & Eddie C. M. Hui & Kwokyuen Fan, 2024. "The Valuation Effect and Consequences of Clawback Adoption in Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 68(2), pages 274-317, February.
    2. George D. Cashman & David M. Harrison & Shelly Howton & Benjamin Scheick, 2023. "The Cost of Financial Flexibility: Information Opacity, Agency Conflicts and REIT at-the-Market (ATM) Equity Offerings," The Journal of Real Estate Finance and Economics, Springer, vol. 66(2), pages 505-541, February.

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