This paper utilizes the information collected in three Surveys on Italian Manufacturing Firms to make inferences about the characteristics of those enterprises using equity capital as the only source of finance when funding their investments. In fact, while the role of external bank debt to the...

As an alternative, the authors propose a real options approach to managing a business unit portfolio as a better framework for conducting the goodwill impairment test. A real options approach to testing goodwill for impairment - as opposed to the standard fair value assessment based on DCF...