Asset ownership and Asset Values Over Project Lifecycles

Yong Kim and Univ. Southern California

No 604, Econometric Society 2004 Far Eastern Meetings from Econometric Society

Abstract: This paper develops a theory of outside ownership where such an ownership arrangement mitigates an external finance problem. Part of the gains from outside ownership accrue to asset owners which determines the asset value. The theory provides a context to analyze asset ownership and asset values over project lifecycles. When there are adjustment costs in realizing the full gains from outside ownership, (i) assets take time to peak in value, and (ii) the outsiders's share of asset ownership increases gradual

Keywords: Asset ownership; Asset value; Project lifecycles; Entry and exit (search for similar items in EconPapers)
JEL-codes: G3 J3 L2 O3 (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-cfn
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Persistent link: https://EconPapers.repec.org/RePEc:ecm:feam04:604

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