Customer Concentration and Corporate Real Estate Holdings

被引：0

作者：

Shiang Liu

Mingming Qiu

Shiyi Zhang

机构：

[1] University of Wisconsin-La Crosse,College of Business Administration

[2] Michigan State University,Broad College of Business

[3] University of Miami,Miami Herbert Business School

来源：

The Journal of Real Estate Finance and Economics | 2022年 / 65卷

关键词：

Customer concentration; Corporate real estate holdings; Capitalized leasing; G30; G32; R33;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

We present new empirical evidence that higher customer concentration leads to lower corporate real estate holdings at the supplier firm level. Further evidence shows that this effect is causal and more pronounced when the likelihood/impact of losing primary customers is higher or when suppliers have less bargaining power. Finally, we show that firms with a concentrated customer base tend to choose capitalized leasing in lieu of holding real estate.

引用

页码：492 / 523

页数：31