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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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 |