Shin, G. Hwan - In: Pacific-Basin Finance Journal 16 (2008) 5, pp. 555-571
Using Korean fixed asset divestiture data, I extend the investigation of the financing hypothesis of divestitures proposed by Lang et al. (Lang, L., Poulsen, A., Stulz, R., 1995. Asset sales, firm performance, and the agency costs of managerial discretion, Journal of Financial Economics 37,...