Eraslan, Hülya (contributor) - 2007 - This version: May 17, 2007
the liquidation values using various rm
speci c information. For example, Alderson and Betker (1995) use management’s re … assets and intangible assets as proxies for liquidation value.
3While the management may have superior information about the … knowledge, this is the
rst paper that estimates a multilateral bargaining model in which the ob-
served variables include how …