Impact of diversification on Singapore REIT firm value

Whether diversifying firm has a beneficial effect on fmancial performance and firm value, remains an open question as the effects seem insignificant. In this study, analyze the impact of diversification on Singapore REIT firm value using 40 S-REITs represent a mixture of specialize and diversify REI...

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Main Author:	Ussha Rani, Nadarajan
Format:	Thesis
Language:	eng eng
Published:	2021
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/10379/1/s827229_01.pdf https://etd.uum.edu.my/10379/2/s827229_02.pdf
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id	my-uum-etd.10379
record_format	uketd_dc
spelling	my-uum-etd.103792023-03-05T03:01:42Z Impact of diversification on Singapore REIT firm value 2021 Ussha Rani, Nadarajan Wong, Woei Chyuan School of Economics, Finance & Banking School of Economics, Finance & Banking HG Finance Whether diversifying firm has a beneficial effect on fmancial performance and firm value, remains an open question as the effects seem insignificant. In this study, analyze the impact of diversification on Singapore REIT firm value using 40 S-REITs represent a mixture of specialize and diversify REITs for the period of 2002 to 2020. The dependent variable is ROA, EBITDAA, Tobin' s Q and PNAV. The key variable is POR. Meanwhile, firm age, firm size, growth, debt, acquisition, and disposition were used as the control variable. The findings revealed that except for firm size, other variables, POR, firm age, growth, debt, acquisition, and disposition has an influence on performance of REIT. On Tobin's Q, only firm size, growth, debt, and acquisition has an influence. When the dependent variable is PNA V, only POR and growth has an influence. Overall, the study concluded that there is an impact of diversification on firm performance and value. Focused investment strategies lead to lower profitability but higher firm valuation. 2021 Thesis https://etd.uum.edu.my/10379/ https://etd.uum.edu.my/10379/1/s827229_01.pdf text eng 2024-12-16 staffonly https://etd.uum.edu.my/10379/2/s827229_02.pdf text eng public other masters Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Wong, Woei Chyuan
topic	HG Finance
spellingShingle	HG Finance Ussha Rani, Nadarajan Impact of diversification on Singapore REIT firm value
description	Whether diversifying firm has a beneficial effect on fmancial performance and firm value, remains an open question as the effects seem insignificant. In this study, analyze the impact of diversification on Singapore REIT firm value using 40 S-REITs represent a mixture of specialize and diversify REITs for the period of 2002 to 2020. The dependent variable is ROA, EBITDAA, Tobin' s Q and PNAV. The key variable is POR. Meanwhile, firm age, firm size, growth, debt, acquisition, and disposition were used as the control variable. The findings revealed that except for firm size, other variables, POR, firm age, growth, debt, acquisition, and disposition has an influence on performance of REIT. On Tobin's Q, only firm size, growth, debt, and acquisition has an influence. When the dependent variable is PNA V, only POR and growth has an influence. Overall, the study concluded that there is an impact of diversification on firm performance and value. Focused investment strategies lead to lower profitability but higher firm valuation.
format	Thesis
qualification_name	other
qualification_level	Master's degree
author	Ussha Rani, Nadarajan
author_facet	Ussha Rani, Nadarajan
author_sort	Ussha Rani, Nadarajan
title	Impact of diversification on Singapore REIT firm value
title_short	Impact of diversification on Singapore REIT firm value
title_full	Impact of diversification on Singapore REIT firm value
title_fullStr	Impact of diversification on Singapore REIT firm value
title_full_unstemmed	Impact of diversification on Singapore REIT firm value
title_sort	impact of diversification on singapore reit firm value
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2021
url	https://etd.uum.edu.my/10379/1/s827229_01.pdf https://etd.uum.edu.my/10379/2/s827229_02.pdf
_version_	1776103804105654272

Impact of diversification on Singapore REIT firm value

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