Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223491
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dc.titleAN ANALYSIS OF THE IMPACT OF SINGAPORE REIT �S COMPENSATION STRUCTURE ON IPO STOCK VALUATION AND POST-IPO PERFORMANCE
dc.contributor.authorPHAAN YI LIN
dc.date.accessioned2018-05-08T02:42:09Z
dc.date.accessioned2022-04-22T20:34:36Z
dc.date.available2019-09-26T14:14:11Z
dc.date.available2022-04-22T20:34:36Z
dc.date.issued2018-05-08
dc.identifier.citationPHAAN YI LIN (2018-05-08). AN ANALYSIS OF THE IMPACT OF SINGAPORE REIT �S COMPENSATION STRUCTURE ON IPO STOCK VALUATION AND POST-IPO PERFORMANCE. ScholarBank@NUS Repository.
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/223491
dc.description.abstractThis study seeks to investigate the effects of manager's compensation structure on initial public offering (IPO) as well as its post-IPO performance. The research focuses on 35 Singapore Real Estate Investment Trusts (S-REITs) that are currently listed on the Singapore Stock Exchange. The compensation structure of each REIT is split into four different components: base fee, performance fee, total fee, and a predetermined performance benchmark. The results as a whole suggest that a low base fee, together with a high performance fee pegged to a predetermined benchmark is highly favoured by the investment market during the IPO stage and will continue to bring superior performance to the REIT. Specifically, a high base fee results in significant underpricing of the REIT, proving that investors do not favour a high base fee. Despite a weak significance of the predetermined performance fee, a slight positive impact on post-IPO performance was observed in addition to the statistically significant positive relationship between a high performance fee and post-IPO performance.
dc.language.isoen
dc.sourcehttps://lib.sde.nus.edu.sg/dspace/handle/sde/4206
dc.subjectReal Estate
dc.subjectRE
dc.subjectOoi Thian Leong Joseph
dc.subject2017/2018 RE
dc.subjectCompensation structure
dc.subjectIPO Stock valuation
dc.subjectReits
dc.subjectSingapore REITs
dc.typeDissertation
dc.contributor.departmentREAL ESTATE
dc.contributor.supervisorOOI THIAN LEONG JOSEPH
dc.description.degreeBachelor's
dc.description.degreeconferredBACHELOR OF SCIENCE (REAL ESTATE)
dc.embargo.terms2018-06-05
Appears in Collections:Bachelor's Theses

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