Description

Volume 1A covers corporate finance: how businesses allocate capital - the capital budgeting decision - and how they obtain capital - the financing decision. Though managers play no independent role in the work of Miller and Modigliani, major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm's decisions, it is therefore necessary to understand the forces that lead managers to maximize the wealth of shareholders.

Table of Contents

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).

Details

No. of pages:
654
Language:
English
Copyright:
© 2003
Published:
Imprint:
North Holland
eBook ISBN:
9780080495071
Print ISBN:
9780444513625
Print ISBN:
9780444561091

About the editors

George M. Constantinides

Affiliations and Expertise

University of Chicago, Chicago, IL, USA

M. Harris

Affiliations and Expertise

University of Chicago, Chicago, IL, USA

Rene M. Stulz

Affiliations and Expertise

The Ohio State University, Columbus, OH, USA