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Are firms in "boring" industries worth less?

Chen, Jia; Hou, Kewei; Stulz, René M. - 2015

have high industry-level dispersion of profitability have on average higher market-to-book ratios than firms in low … dispersion industries. This positive relation between market-to-book ratios and industry profitability dispersion is economically …

Persistent link: https://www.econbiz.de/10010531875

Are firms in "boring" industries worth less?

Chen, Jia; Hou, Kewei; Stulz, René M. - 2015

Persistent link: https://www.econbiz.de/10010489554

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

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

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