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Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion
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) firmsExpand
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The Choice of Private Versus Public Capital Markets: Evidence from Privatizations
We examine the impact of political, institutional, and economic factors on the choice between selling a state-owned enterprise in the public capital market through a share issue privatization (SIP)Expand
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What Does it Take? Comparison of Research Standards for Promotion in Finance
Promotion decisions for professors are critical for any university and this is especially true when promotion also involves the granting of tenure. In this paper, we report the number of publicationsExpand
The Rise of Corporate Governance in Corporate Control Research
This article has two related tasks. First, we review the articles published in this Special Issue on Corporate Control, Mergers, and Acquisitions. These articles provide new evidence on severalExpand
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