Optimal Leverage in Real Estate Investment

被引：0
|
作者：
John F. Mcdonald
机构：
[1] University of Illinois at Chicago,Departments of Economics and Finance
来源：
The Journal of Real Estate Finance and Economics | 1999年 / 18卷
关键词：
leverage; default risk;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This article is a theoretical examination of optimal financial leverage for real estate investment in the presence of uncertainty. The main result shows that uncertainty creates the possibility that a borrower will default on a real estate loan and that this possibility is the underlying factor in optimal leverage calculations for both borrower and lender.
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页码：239 / 252
页数：13
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