Tangible Assets, Growth Options, and Corporate Pension Funding and Asset Allocation Decisions: Theory and Evidence

Growth Opportunities, Stockholders' Claim/Liability on Pension Plans, and Corporate Pension Policies

“…An earlier version of this paper was presented at the Fourth Financial Risks International Forum held in Paris, France, March 10–11, 2011, and the Netsapr Symposium held at Amsterdam, Netherlands, January 22–24, 2013. This paper is based on Lee et al (), the theoretical part of which was completed by the author of this paper. Lee et al () have been developed into two separate papers subsequently.…”

“…This paper is based on Lee et al (), the theoretical part of which was completed by the author of this paper. Lee et al () have been developed into two separate papers subsequently. The author is grateful to the anonymous referee, Ousmane Seck, Ting Zhang and the seminar participants for their comments and suggestions.…”