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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

Inflation, investment and valuation

Cornell, Bradford; Gerger, Richard; Jarrell, Gregg A.; … - In: Journal of business valuation and economic loss analysis 16 (2021) 1, pp. 1-13

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Plowback in the constant-growth dcf model

Canessa, James L.; Jarrell, Gregg A. - In: Journal of applied corporate finance : JACF 34 (2022) 3, pp. 95-109

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The proper treatment of cash holdings in DCF valuation theory and practice

Canessa, James L.; Jarrell, Gregg A. - In: Journal of business valuation and economic loss analysis 17 (2022) 1, pp. 39-64

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

Lang, Larry; Poulsen, Annette; Stulz, Rene M. - National Bureau of Economic Research (NBER) - 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/10005829750

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

Lang, Larry; Poulsen, Annette; Stulz, Rene - In: Journal of Financial Economics 37 (1995) 1, pp. 3-37

Persistent link: https://www.econbiz.de/10005376835

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

Lang, Larry; Poulsen, Annette; Stulz, René - In: Journal of financial economics 37 (1995) 1, pp. 3-5

Persistent link: https://www.econbiz.de/10006533844

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

Lang, Larry - 1994

Persistent link: https://www.econbiz.de/10012474282

ASSET SALES, FIRM PERFORMANCE, AND THE AGENCY COSTS OF MANAGERLAL DISCRETION

Lang, Larry; Poulsen, Annette; Stulz, René M. - 1994

Persistent link: https://www.econbiz.de/10007011043