Financial Distress, Asset Sales, and Lender Monitoring
研究发现英国公司资产出售的主要好处来自解决财务困境，这类出售能最小化破产的直接和间接成本，从而为出售方股东带来正回报。
In the United Kingdom, the main benefit from divestitures comes from the resolution of financial distress. These sales can minimize the direct and indirect costs of bankruptcy, which accounts for the positive returns to the divesting firm's shareholders.