A Theory of Takeovers and Disinvestment
收藏NBER2005-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11082
下载链接
链接失效反馈官方服务：
资源简介：
We present a real-options model of takeovers and disinvestment in declining industries. As product demand declines, a first-best closure level is reached, where overall value is maximized by shutting down the.rm and releasing its capital to investors. Absent takeovers, managers of unlevered firms
提供机构：
美国国家经济研究局
创建时间：
2005-01-01
