Predicting the REIT Corporate Life Cycle Phase on a Financial Accounting Basis

This study investigates the effect of financial–accounting variables on a firm’s distinct life cycle phase. The concentrates real estate sector and uses data publicly listed REITs which are traded in European market. To assess empirical argument, multinomial panel logit model is employed. results show that leverage, dividend distribution, size sales variable have significant predictive power over corporate classification an REIT. Higher leverage associated with elevated probability REIT being classified early stage its cycle, as opposed to maturity stage. Positive variation also predictor categorized shake–out stage, while lower negative all increased decline rather than