Financing Through Asset Sales
---- Acknowledgements ----
We thank Zehao Hu and Devin Reilly for excellent research assistance and Ilona Babenko, Ginka Borisova, Xavier Gabaix, Larry Lang, Gustavo Manso, Chris Mayer, Erwan Morellec, Stew Myers, Julio Riutort, Lynn Selhat, Myron Slovin, Marie Sushka, James Thompson, Neng Wang, Jun Yang, and conference/seminar participants at Columbia, HBS, Houston, Lausanne, Philadelphia Fed, Utah, Wharton, Arizona State Winter Finance Conference, Chile Corporate Finance Conference, Florida State/Sun Trust Conference, and the UBC Summer Conference Early Ideas Session for helpful comments. AE gratefully acknowledges financial support from the Goldman Sachs Research Fellowship from the Rodney L. White Center for Financial Research, the Wharton Dean's Research Fund, and the Dorinda and Mark Winkelman Distinguished Scholar award. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.