Handbook of Corporate Finance
Empirical Corporate Finance
- B. Espen Eckbo, Center for Corporate Governance Tuck School at Dartmouth, Hanover, NH, USA
Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firmsâ financing and investment decisions-empirical corporate finance-has become a dominant field in financial economics. The growing interest in everything âcorporateâ is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific-but nevertheless important-source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work.
Researchers and academics in economics and finance