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Full-Text Articles in Finance and Financial Management
The Impacts Of Covid-19 On Capital Structure Determinants Of Hotel Real Estate Investment Trusts, Marcos Medeiros, Nan Hua, Youcheng Wang
The Impacts Of Covid-19 On Capital Structure Determinants Of Hotel Real Estate Investment Trusts, Marcos Medeiros, Nan Hua, Youcheng Wang
Journal of Hospitality Financial Management
Real Estate Investment Trusts (REITs) are responsible for more than seventy-five percent of the hotel ownership structure in the USA. The effects of COVID-19 restrictions on hotel REITs were devastating due to the unpredictability of revenues and cash flows, directly impacting managerial decisions on how to adapt REITs' capital structure quickly. This paper used quarterly hotel REIT financial data of the 18 most representative U.S. H-REITs from January 2015 through December 2020 to understand the moderating effects of COVID-19 on hotel REITs' capital structure determinants. Analyzing a panel data of 472 observations, this study found robust empirical evidence that confirms …
Indonesian Capital Market Reaction To Jakarta’S Large Scale Social Restrictions, Nur Wahyu Catur Wicaksono, Y. Anni Aryani, Doddy Setiawan
Indonesian Capital Market Reaction To Jakarta’S Large Scale Social Restrictions, Nur Wahyu Catur Wicaksono, Y. Anni Aryani, Doddy Setiawan
The Indonesian Capital Market Review
This study aims to analyze the Indonesian capital market reaction to the Large-Scale Social Restrictions (PSBB) policy in Jakarta in 2020. The findings from this study can be used as a policy evaluation and as a reference to assess similar future policies to be implemented in Jakarta. Four event periods were used based on the number of times this policy was implemented in 2020. Using the event study approach and single index model method, this study used 568 companies listed on the IDX which are then divided into nine sectors. The results of this study showed that the Indonesian capital …