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Comparative Study on Internal Principal-Agent Structure between REITs and Similar Investment Instruments

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DOI: 10.23977/etemss.2018.1644


Li Haijia, He Chunming

Corresponding Author

Li Haijia


In China, it is an inevitable trend to develop local REITs and study how to distinguish it from similar investment instruments, so the analysis on the internal governance structure of REITs will be of great practical significance. By comparing REITs with 4 other collective investment instruments, this paper delves into the characteristics of basic internal governance structure, which differ REITs from other collective investment instruments, and provides beneficial reference for REITs developed in China.


REITs, Collective investment instruments, Principal-agent structure, Internal governance structure

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