Financing Asset Sales and Business Cycles
Research, Preprint, Book
- Publisher: SoF - HSG
330 Economics | Department of Banking and Finance | business studies | Asset Sales, Wealth Transfer Problem, Leverage, Business Cycles, Real Options
This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional...