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Asset ownership and Asset Values Over Project Lifecycles

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  • Professor Yong Kim
  • Univ. Southern California

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

Suggested Citation

  • Professor Yong Kim & Univ. Southern California, 2004. "Asset ownership and Asset Values Over Project Lifecycles," Econometric Society 2004 Far Eastern Meetings 604, Econometric Society.
    • Handle: RePEc:ecm:feam04:604
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    File URL: http://repec.org/esFEAM04/up.11755.1080512638.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Asset ownership; Asset value; Project lifecycles; Entry and exit;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • G3 - Financial Economics - - Corporate Finance and Governance
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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