Goebel, Joseph M.; Athavale, Manoj V. - In: Global Business and Economics Review 16 (2014) 3, pp. 231-252
contractions. Consistent with costly reversibility, high BM firms with more fixed assets are less profitable and dispose of more … fixed assets during contractions than low BM firms. Support for costly reversibility looking at k and MRP is found when … provided for costly reversibility, it is limited in explaining the value premium. …