In a new world characterized by more frequent and rich flows of
information, with more efficient and plenty of available external
capital, how will the - simultaneous - investment and divestment
decisions be affected? This book thoroughly covers the main features and
relevance of asset sales as an integral component of many companies'
growth strategies in the current and continually evolving corporate
finance eco-system.
After an introductory section on the relevance of asset sales in
corporations (both non-financial and financial), it discusses the
corporate asset market and the mechanisms of asset sale transactions.
The focus then turns to the theory of finance in asset sales (the
efficiency and financing theory) and the extensive empirical literature
now available. In light of recent and rapid technological and digital
advances, a concluding section presents new perspectives on analyzing
asset sales transactions. Chiefly intended as a primer for PhD students
and academics, the book offers roadmaps for the empirical research
landscape and suggests future research directions.