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A widely recognized paper by Colin Mayer (1988) has led to a profound revision of academic thinking about financing patterns of corporations in different countries. Using flow-of-funds data instead of balance sheet data, Mayer and others who followed his lead found that internal financing is the...
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Dieses bewährte Standardwerk bietet einen Überblick über grundlegende Probleme und Lösungsansätze sowie Modelle der Investitions- und Finanzierungstheorie. Die Autoren stellen die neuere institutionentheoretische und die kapitalmarktorientierte Richtung gleichberechtigt nebeneinander und...
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In early July 2019, Christian Sewing, the CEO of Deutsche Bank, proclaimed a fundamental shift of the bank's strategy after finally obtaining the approval of the Supervisory Board, which the management seems to have requested for quite some time. The essential point of the reorientation is a...
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This article discusses how the German and the international academic debates about corporate finance developed in the … assumption shapes the main propositions of the theory of corporate finance but also, in a more general sense, determines which … topics in finance attract the attention of researchers and therefore are a topic of the theory. During the first two phases …
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