This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Asset sales, firm performance, and the agency costs of managerial discretion Author info | Abstract | Publisher info | Download info | Related research | Statistics Lang, Larry
Poulsen, Annette
Stulz, Rene
Additional information is available for the following
registered author(s):
No abstract is available for
this item.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by Elsevier in its journal Journal of Financial Economics .
Volume (Year): 37 (1995)
Issue (Month): 1 (January)
Pages: 3-37
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:eee:jfinec:v:37:y:1995:i:1:p:3-37Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505576
For technical questions regarding this item, or to correct its listing, contact: (Heidi Boesdal).
Keywords: Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Jensen, Michael C, 1986.
"Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers ,"
American Economic Review ,
American Economic Association, vol. 76(2), pages 323-29, May.
[Downloadable!] (restricted)
Miller, Merton H & Rock, Kevin, 1985.
" Dividend Policy under Asymmetric Information ,"
Journal of Finance ,
American Finance Association, vol. 40(4), pages 1031-51, September.
[Downloadable!] (restricted)
Oliver Hart & John Moore, 1990.
"A Theory of Corporate Financial Structure Based on the Seniority of Claims ,"
NBER Working Papers
3431, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Oliver Hart & John Moore, 1990.
"A Theory of Corporate Financial Structure Based on the Seniority of Claims ,"
STICERD - Theoretical Economics Paper Series
217, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
Hart, O. & Moore, J., 1990.
"A Theory Of Corporate Financial Structure Based On The Seniority Of Claims ,"
Working papers
560, Massachusetts Institute of Technology (MIT), Department of Economics.
Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984.
"Corporate financing and investment decisions when firms have information that investors do not have ,"
Working papers
1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
[Downloadable!]
Robert A. Korajczyk & Deborah J. Lucas & Robert L. McDonald, 1989.
"Understanding Stock Price Behavior around the Time of Equity Issues ,"
NBER Working Papers
3170, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Stewart C. Myers & Nicholas S. Majluf, 1984.
"Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have ,"
NBER Working Papers
1396, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Myers, Stewart C. & Majluf, Nicholas S., 1984.
"Corporate financing and investment decisions when firms have information that investors do not have ,"
Journal of Financial Economics ,
Elsevier, vol. 13(2), pages 187-221, June.
[Downloadable!] (restricted)
Paul Asquith & Robert Gertner & David Scharfstein, 1991.
"Anatomy of Financial Distress: An Examination of Junk-Bond Issuers ,"
NBER Working Papers
3942, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Alexander, Gordon J & Benson, P George & Kampmeyer, Joan M, 1984.
" Investigating the Valuation Effects of Announcements of Voluntary Corporate Selloffs ,"
Journal of Finance ,
American Finance Association, vol. 39(2), pages 503-17, June.
[Downloadable!] (restricted)
Lang, Larry H. P. & Stulz, ReneM. & Walkling, Ralph A., 1989.
"Managerial performance, Tobin's Q, and the gains from successful tender offers ,"
Journal of Financial Economics ,
Elsevier, vol. 24(1), pages 137-154, September.
[Downloadable!] (restricted)
Stulz, ReneM., 1990.
"Managerial discretion and optimal financing policies ,"
Journal of Financial Economics ,
Elsevier, vol. 26(1), pages 3-27, July.
[Downloadable!] (restricted)
McConnell, John J. & Muscarella, Chris J., 1985.
"Corporate capital expenditure decisions and the market value of the firm ,"
Journal of Financial Economics ,
Elsevier, vol. 14(3), pages 399-422, September.
[Downloadable!] (restricted)
Jain, Prem C, 1985.
" The Effect of Voluntary Sell-off Announcements on Shareholder Wealth ,"
Journal of Finance ,
American Finance Association, vol. 40(1), pages 209-24, March.
[Downloadable!] (restricted)
Myers, Stewart C., 1977.
"Determinants of corporate borrowing ,"
Journal of Financial Economics ,
Elsevier, vol. 5(2), pages 147-175, November.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Reid W. Click & Paul Harrison, 2000.
"Does multinationality matter? Evidence of value destruction in U.S. multinational corporations ,"
Finance and Economics Discussion Series
2000-21, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!]
Gayane Hovakimian & Sheridan Titman, 2003.
"Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales ,"
NBER Working Papers
9432, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: S. Balcaen & J. Buyze & H. Ooghe, 2009.
"Financial distress and firm exit: determinants of involuntary exits, voluntary liquidations and restructuring exits ,"
Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium
09/598, Ghent University, Faculty of Economics and Business Administration.
[Downloadable!]
Other versions: Bruce M. Burton, 2003.
"Evidence on the extent of relationships among investment opportunity set proxies ,"
Applied Economics Letters ,
Taylor and Francis Journals, vol. 10(7), pages 437-441, May.
[Downloadable!] (restricted)
William Lang & Choon-Geol Moon & Loretta Mester & Joseph Hughes & Michael Pagano, 2001.
"Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation, and Financial Performance ,"
Departmental Working Papers
200117, Rutgers University, Department of Economics.
[Downloadable!]
Other versions:
Joseph P. Hughes & William W. Lang & Loretta J. Mester & Choon-Geol Moon & Michael S. Pagano, 2002.
"Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation and Financial Performance ,"
Center for Financial Institutions Working Papers
02-18, Wharton School Center for Financial Institutions, University of Pennsylvania.
[Downloadable!] Joseph P. Hughes & William W. Lang & Loretta J. Mester & Choon-Geol Moon & Michael S. Pagano, 2002.
"Do bankers sacrifice value to build empires? managerial incentives, industry consolidation, and financial performance ,"
Working Papers
02-2, Federal Reserve Bank of Philadelphia.
[Downloadable!] Hughes, Joseph P. & Lang, William W. & Mester, Loretta J. & Moon, Choon-Geol & Pagano, Michael S., 2003.
"Do bankers sacrifice value to build empires? Managerial incentives, industry consolidation, and financial performance ,"
Journal of Banking & Finance ,
Elsevier, vol. 27(3), pages 417-447, March.
[Downloadable!] (restricted) Hege, Ulrich & Lovo, Stefano & Slovin, Myron & Sushka, Marie, 2006.
"Equity and cash in intercorporate asset sales : theory and evidence ,"
Les Cahiers de Recherche
859, HEC Paris.
[Downloadable!]
Other versions: Laeven, Luc, 2001.
"International evidence on the value of product and geographic diversity ,"
Policy Research Working Paper Series
2729, The World Bank.
[Downloadable!]
Mara Faccio & Rajdeep Sengupta, 2006.
"Corporate response to distress: evidence from the Asian financial crisis ,"
Working Papers
2006-044, Federal Reserve Bank of St. Louis.
[Downloadable!]
José Manuel Campa & Simi Kedia, 1999.
"Explaining the Diversification Discount ,"
Working Papers
99-06, New York University, Leonard N. Stern School of Business, Department of Economics.
[Downloadable!]
Other versions:
Campa, Jose M. & Kedia, Simi, 2000.
"Explaining the diversification discount ,"
IESE Research Papers
D/424, IESE Business School.
[Downloadable!] Jose Manuel Campa & Simi Kedia, 2002.
"Explaining the Diversification Discount ,"
Journal of Finance ,
American Finance Association, vol. 57(4), pages 1731-1762, 08.
[Downloadable!] (restricted) William Gentry & David M. Schizer, 2002.
"Frictions and Tax-Motivated Hedging: An Empirical Exploration of Publicly-Traded Exchangeable Securities ,"
NBER Working Papers
9243, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Nicolaj Siggelkow, 1999.
"Expense Shifting: An Empirical Study of Agency Costs in the Mutual Fund Industry ,"
Center for Financial Institutions Working Papers
99-09, Wharton School Center for Financial Institutions, University of Pennsylvania.
[Downloadable!]
Access and
download statistics Did you know? About five million pdf files are downloaded through RePEc every year.
This page was last updated on 2009-11-7.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .