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Asset sales, firm performance, and the agency costs of managerial discretion

Lang, Larry H. P. - 1994

Persistent link: https://www.econbiz.de/10000886327

Asset sales, firm performance, and the agency costs of managerial discretion

Lang, Larry H. P. - In: Journal of financial economics 37 (1995) 1, pp. 3-37

Persistent link: https://www.econbiz.de/10001172916

How different is Japanese corporate finance? : An investigation of the information content of new security issues

Kang, Jun-koo - In: The review of financial studies 9 (1996) 1, pp. 109-139

Persistent link: https://www.econbiz.de/10001198901

Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion

Poulsen, Annette B. - 2010

We argue that management sells assets when doing so provides the cheapest funds to pursue its objectives rather than for operating efficiency reasons alone. This hypothesis suggests that (1) firms selling assets have high leverage and/or poor performance, (2) a successful asset sale is good news...

Persistent link: https://www.econbiz.de/10012763250

How valuable is financial flexibility when revenue stops? : evidence from the COVID-19 crisis

Fahlenbrach, Rüdiger; Rageth, Kevin; Stulz, René M. - In: The review of financial studies 34 (2021) 11, pp. 5474-5521

Persistent link: https://www.econbiz.de/10012655643

Do banking shocks affect borrowing firm performance? : An analysis of the Japanese experience

Kang, Jun-koo; Stulz, René M. - In: The journal of business : B 73 (2000) 1, pp. 1-23

Persistent link: https://www.econbiz.de/10001447167