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DIGITAL FINANCIAL ASSETS AS A CAPITAL RAISING TOOL IN THE REAL ESTATE SECTOR: COST OF BORROWED CAPITAL

Author (s)

Maksimenko R.V.

Abstract

The article was written as part of a dissertation research project on the topic: “Digital financial assets in the real estate sector: impact on the cost of capital, speed of fundraising, and liquidity of instruments”. This study was conducted in two stages. In the first stage, a research database of bond issues and decisions to issue digital financial assets for 2025 among developers in Russia was created. At the second stage, the average weighted coupon rate for both instruments was calculated, the synchronous dynamics of the instruments and the systematic discrepancy in the level of rates were recorded, and the amplitude of rate fluctuations was established.

Keywords

developers; debt financing; monetary policy; coupon rates; stock; capital saving; cost of borrowed capital; digital financial assets; empirical research

References

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