Financing asset sales and business cycles

Research, Preprint, Book English OPEN
Puhan, Tatjana-Xenia; Arnold, Marc; Hackbarth, Dirk;
(2014)
  • Publisher: SoF - HSG
  • Related identifiers: doi: 10.5167/uzh-107109
  • Subject: 330 Economics | Department of Banking and Finance | business studies | Asset Sales, Wealth Transfer Problem, Leverage, Business Cycles, Real Options
    • jel: jel:G12 | jel:G33 | jel:G32 | jel:E44 | jel:D92

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... View more
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