Customer Concentration and Corporate Real Estate Holdings

被引：0

作者：

Liu, Shiang ^{[1
]}

Qiu, Mingming ^{[2
]}

Zhang, Shiyi ^{[3
]}

机构：

[1] Univ Wisconsin, Coll Business Adm, La Crosse, WI 54601 USA

[2] Michigan State Univ, Broad Coll Business, E Lansing, MI 48824 USA

[3] Univ Miami, Miami Herbert Business Sch, Coral Gables, FL 33124 USA

来源：

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 2022年 / 65卷 / 03期

关键词：

Customer concentration; Corporate real estate holdings; Capitalized leasing;

D O I：

10.1007/s11146-020-09817-x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

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：32

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