We study the effect of asset liquidity (“tangibility”) on firm policies in the presence of financing constraints. We do so in a real options framework that allows for the simultaneous determination of investment and financing. In the presence of financing imperfections, firms that operate more tangible assets have larger credit capacity. By expanding the firm’s capital base, the investment proc...

During the last decades, settlement activities increased in European mountain regions. Due to the scarceness of areas suitable for development, residential estates were extended into areas endangered by natural hazards such as mass movements. These settlements generally show a considerable vulnerability to tangible assets. Integral risk management strategies to reduce the vulnerability to tangi...

With the rise of the knowledge economy, the importance of intellectual capital has grown. The concept of intellectual capital was raised by Galbraith in 1969, since when the market to book value of corporations around the world has increased dramatically. The implication of this phenomenon is that value creating factors have shifted from tangible assets to intangible ones. Thus, in order to cre...

The damage to the company's assets may concern products belonging inventories or multi-year tangible assets. Depending on type of assets, accounting recognition is profoundly different. As will be seen following pages, no particular problems arise concerning insurance compensation since recognised when receivable from company occurs in legal terms. can only realised if it quantitatively determi...

This article brings together two views of organisations: resource-based theories (RBT) and social network analysis (SNA). Resource-based theories stress the importance of tangible assets, as well as less tangible ones, in the competitive advantage and success of organisations. However, they provide little insight into how resources are brought together by an organisation to generate core compet...

We investigated the economic effects of newspaper reports of information security incidents on corporate values in the Japanese stock market. We found a different trend of effects in terms of reaction speed in the Japanese stock market compared with the US market. The reaction to news reports of the incidents is slower in the Japanese stock market than in the US market. We found statistically s...

We examine the intersection between corporate divestitures of tangible assets and investment in intangible capital (R&D) to provide new tests for the impact financing constraints have on real activity. A positive R&D sensitivity to asset sale proceeds indicates binding financing constraints since cash inflows from tangible asset sales are negatively correlated with productivity shocks and not o...

identifying the influential factors in sustainable competitive advantage through a resource based view (rbv) is one of the main and most important ways of creating a sustainable competitive position. the purpose of this paper, therefore, is to identify the csf in gaining sustainable competitive advantage in bank mellat based on a resource based view. in order to do this, a conceptual model was ...

Port organizations have focused their efforts on physical or tangible assets, generating profitability and value. However, it is recognized that the greatest sustainable competitive advantage is the creation of knowledge using the intangible assets of the organization. The Balanced ScoreCard, as a performance tool, has incorporated intangible assets such as intellectual, structural and social c...