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

Lang, Larry - 1994

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/10012474282

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

Poulsen, Annette Brinch - 2010

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Debt financing and agency cost on profitability : are real estate firms' performance in India getting affected?

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Performance contingencies in CEO equity awards and debt contracting

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Examining the effect of agency cost on capital structure-financial performance nexus : empirical evidence for emerging market

Sdiq, Shirwan Rafiq; Abdullah, Hariem A. - In: Cogent economics & finance 10 (2022) 1, pp. 1-16

significant insights for managers of the sector particularly for the current rapid development in the sector. …

Persistent link: https://www.econbiz.de/10014500396

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

Insider-Handel, Informationsproduktion und Kapitalmarkt : eine institutionenökonomische Analyse

Weber, Wolfgang - 1994

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Does stock listing affect value creation and profitability? : evidence from European listed and unlisted companies

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Transient institutional ownership, costly external finance and corporate cash holdings

Im, Hyun Joong; Park, Heungju; Pathan, Shams; Faff, … - In: Journal of business finance & accounting : JBFA 52 (2025) 2, pp. 1212-1249

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Effects of financial flexibility value and accounting conservatism on investment : evidence from mispricing

Chao, Chin-Fang; Lin, Yi-Mien; Wang, Teng-Shih - In: Journal of economics and finance : JEF 47 (2023) 3, pp. 690-706

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