Corporate finance

Online-Ressource

Handbooks in economics. - Amsterdam [u.a.] : Elsevier, ISSN 2772-462X, ZDB-ID 2685869-1. - Vol. 21

Includes bibliographical references and index. - Print version record

Preface (G. Constantinides, M. Harris, R. Stulz). Corporate Governance and Control (M. Becht, P. Bolton, A. Roell). Agency, Information and Corporate Investment (J. Stein). Corporate Investment Policy (M.J. Brennan). Financing Policies (S. Myers). Investment Banking and Security Issuance (J. Ritter). Financial Innovation (P. Tufano). Payout Policy (F. Allen, R. Michaely). Financial Intermediation (G. Gorton, A. Winton). Market Microstructure (H.R. Stoll).

Cover; Corporate Finance; Copyright Page; Introduction to the Series; Contents of the Handbook; Preface; Corporate Finance; Contents of Volume 1A; Chapter 1. Corporate Governance and Control; Abstract; Keywords; 1. Introduction; 2. Historical origins: a brief sketch; 3. Why corporate governance is currently such a prominent issue; 4. Conceptual framework; 5. Models; 6. Comparative perspectives and debates; 7. Empirical evidence and practice; 8. Conclusion; References; Chapter 2. Agency, Information and Corporate Investment; Abstract; Keywords; 1. Introduction

Part A. Investment at the firm level2. Theoretical building blocks: investment at the firm level; 3. Evidence on investment at the firm level; 4. Macroeconomic implications; Part B. Investment inside firms; 5. Theoretical work on internal capital allocation; 6. Empirical work on internal capital allocation; 7. Conclusions: implications for the boundaries of the firm; References; Chapter 3. Corporate Investment Policy; Abstract; Keywords; 1. Introduction; 2. The objective of the firm and the net-present-value rule; 3. Valuation by discounting

4. Practical approaches to estimating discount rates5. The certainty equivalent approach to valuation; 6. Summary; References; Chapter 4. Financing of Corporations; Abstract; Keywords; 1. Introduction; 2. The Modigliani-Miller value-irrelevance propositions; 3. The trade-off theory; 4. The pecking-order theory; 5. Agency theories of capital structure; 6. What next?; References; Chapter 5. Investment Banking and Securities Issuance; Abstract; Keywords; 1. Introduction; 2. Seasoned equity offerings (SEOs); 3. Short-run and long-run reactions to corporate financing activities

4. Initial public offerings (IPOs)5. Summary; References; Chapter 6. Financial Innovation; Abstract; Keywords; 1. Introduction; 2. What is financial innovation?; 3. Why do financial innovations arise? What functions do they serve?; 4. Who innovates? The identities of and private returns to innovators; 5. The impact of financial innovation on society; 6. Issues on the horizon: patenting and intellectual property; 7. Summary; References; Chapter 7. Payout Policy; Abstract; Keywords; 1. Introduction; 2. Some empirical observations on payout policies

3. The Miller-Modigliani dividend irrelevance proposition4. How should we measure payout?; 5. Taxes; 6. Asymmetric information and incomplete contracts - theory; 7. Empirical evidence; 8. Transaction costs and other explanations; 9. Repurchases; 10. Concluding remarks; References; Chapter 8. Financial Intermediation; Abstract; Keywords; 1. Introduction; 2. The existence of financial intermediaries; 3. Interactions between banks and borrowers; 4. Banking panics and the stability of banking systems; 5. Bank regulation, deposit insurance, capital requirements; 6. Conclusion; References

Chapter 9. Market Microstructure

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