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Handbook of Corporate Finance

Author : Bjørn Espen Eckbo
Publisher : Elsevier
ISBN 13 : 0080488919
Total Pages : 559 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Handbook of Corporate Finance by : Bjørn Espen Eckbo

Download or read book Handbook of Corporate Finance written by Bjørn Espen Eckbo and published by Elsevier. This book was released on 2007-05-21 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms’ financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything “corporate 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. *The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance *Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance *The series is international in scope with contributions from field leaders the world over

Trade-Off

Author : Kevin Maney
Publisher : Currency
ISBN 13 : 0385525958
Total Pages : 242 pages
Book Rating : 4.3/5 (855 download)

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Book Synopsis Trade-Off by : Kevin Maney

Download or read book Trade-Off written by Kevin Maney and published by Currency. This book was released on 2010-08-17 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Fresh and Important New Way to Understand Why We Buy Why did the RAZR ultimately ruin Motorola? Why does Wal-Mart dominate rural and suburban areas but falter in large cities? Why did Starbucks stumble just when it seemed unstoppable? The answer lies in the ever-present tension between fidelity (the quality of a consumer’s experience) and convenience (the ease of getting and paying for a product). In Trade-Off, Kevin Maney shows how these conflicting forces determine the success, or failure, of new products and services in the marketplace. He shows that almost every decision we make as consumers involves a trade-off between fidelity and convenience–between the products we love and the products we need. Rock stars sell out concerts because the experience is high in fidelity-–it can’t be replicated in any other way, and because of that, we are willing to suffer inconvenience for the experience. In contrast, a downloaded MP3 of a song is low in fidelity, but consumers buy music online because it’s superconvenient. Products that are at one extreme or the other–those that are high in fidelity or high in convenience–-tend to be successful. The things that fall into the middle-–products or services that have moderate fidelity and convenience-–fail to win an enthusiastic audience. Using examples from Amazon and Disney to People Express and the invention of the ATM, Maney demonstrates that the most successful companies skew their offerings to either one extreme or the other-–fidelity or convenience-–in shaping products and building brands.

The 360° Corporation

Author : Sarah Kaplan
Publisher : Stanford University Press
ISBN 13 : 1503610438
Total Pages : 271 pages
Book Rating : 4.5/5 (36 download)

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Book Synopsis The 360° Corporation by : Sarah Kaplan

Download or read book The 360° Corporation written by Sarah Kaplan and published by Stanford University Press. This book was released on 2019-09-03 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Companies are increasingly facing intense pressures to address stakeholder demands from every direction: consumers want socially responsible products; employees want meaningful work; investors now screen on environmental, social, and governance criteria; "clicktivists" create social media storms over company missteps. CEOs now realize that their companies must be social as well as commercial actors, but stakeholder pressures often create trade-offs with demands to deliver financial performance to shareholders. How can companies respond while avoiding simple "greenwashing" or "pinkwashing"? This book lays out a roadmap for organizational leaders who have hit the limits of the supposed win-win of shared value to explore how companies can cope with real trade-offs, innovating around them or even thriving within them. Suggesting that the shared-value mindset may actually get in the way of progress, bestselling author Sarah Kaplan shows in The 360° Corporation how trade-offs, rather than being confusing or problematic, can actually be the source of organizational resilience and transformation.

Thin Capitalization Rules and Multinational Firm Capital Structure

Author : Jennifer Blouin
Publisher : International Monetary Fund
ISBN 13 : 1484384644
Total Pages : 37 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Thin Capitalization Rules and Multinational Firm Capital Structure by : Jennifer Blouin

Download or read book Thin Capitalization Rules and Multinational Firm Capital Structure written by Jennifer Blouin and published by International Monetary Fund. This book was released on 2014-01-24 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential data on the internal and total leverage of foreign affiliates of US multinationals, we find that thin capitalization rules significantly affect multinational firm capital structure. Specifically, restrictions on an affiliate’s debt-to-assets ratio reduce this ratio on average by 1.9%, while restrictions on an affiliate’s borrowing from the parent-to-equity ratio reduce this ratio by 6.3%. Also, restrictions on borrowing from the parent reduce the affiliate’s debt-to-assets ratio by 0.8%, which shows that rules targeting internal leverage have an indirect effect on the overall indebtedness of affiliate firms. The impact of capitalization rules on affiliate leverage is higher if their application is automatic rather than discretionary. Furthermore, thin capitalization regimes have aggregate firm effects: they reduce the firm’s aggregate interest expense but lower firm valuation. Overall, our results show than thin capitalization rules, which thus far have been understudied, have a substantial effect on the capital structure within multinational firms, with implications for the firm’s market valuation.

Trade-off Analytics

Author : Gregory S. Parnell
Publisher : John Wiley & Sons
ISBN 13 : 1119238307
Total Pages : 640 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Trade-off Analytics by : Gregory S. Parnell

Download or read book Trade-off Analytics written by Gregory S. Parnell and published by John Wiley & Sons. This book was released on 2016-10-25 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents information to create a trade-off analysis framework for use in government and commercial acquisition environments This book presents a decision management process based on decision theory and cost analysis best practices aligned with the ISO/IEC 15288, the Systems Engineering Handbook, and the Systems Engineering Body of Knowledge. It provides a sound trade-off analysis framework to generate the tradespace and evaluate value and risk to support system decision-making throughout the life cycle. Trade-off analysis and risk analysis techniques are examined. The authors present an integrated value trade-off and risk analysis framework based on decision theory. These trade-off analysis concepts are illustrated in the different life cycle stages using multiple examples from defense and commercial domains. Provides techniques to identify and structure stakeholder objectives and creative, doable alternatives Presents the advantages and disadvantages of tradespace creation and exploration techniques for trade-off analysis of concepts, architectures, design, operations, and retirement Covers the sources of uncertainty in the system life cycle and examines how to identify, assess, and model uncertainty using probability Illustrates how to perform a trade-off analysis using the INCOSE Decision Management Process using both deterministic and probabilistic techniques Trade-off Analytics: Creating and Exploring the System Tradespace is written for upper undergraduate students and graduate students studying systems design, systems engineering, industrial engineering and engineering management. This book also serves as a resource for practicing systems designers, systems engineers, project managers, and engineering managers. Gregory S. Parnell, PhD, is a Research Professor in the Department of Industrial Engineering at the University of Arkansas. He is also a senior principal with Innovative Decisions, Inc., a decision and risk analysis firm and has served as Chairman of the Board. Dr. Parnell has published more than 100 papers and book chapters and was lead editor of Decision Making for Systems Engineering and Management, Wiley Series in Systems Engineering (2nd Ed, Wiley 2011) and lead author of the Handbook of Decision Analysis (Wiley 2013). He is a fellow of INFORMS, the INCOSE, MORS, and the Society for Decision Professionals.

Trade-Off 36 Success Secrets - 36 Most Asked Questions on Trade-Off - What You Need to Know

Author : Michael Powers
Publisher : Emereo Publishing
ISBN 13 : 9781488859311
Total Pages : 24 pages
Book Rating : 4.8/5 (593 download)

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Book Synopsis Trade-Off 36 Success Secrets - 36 Most Asked Questions on Trade-Off - What You Need to Know by : Michael Powers

Download or read book Trade-Off 36 Success Secrets - 36 Most Asked Questions on Trade-Off - What You Need to Know written by Michael Powers and published by Emereo Publishing. This book was released on 2014-10-17 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here comes Trade-off. There has never been a Trade-off Guide like this. It contains 36 answers, much more than you can imagine; comprehensive answers and extensive details and references, with insights that have never before been offered in print. Get the information you need--fast! This all-embracing guide offers a thorough view of key knowledge and detailed insight. This Guide introduces what you want to know about Trade-off. A quick look inside of some of the subjects covered: Muffler - Trade-off between power increase and noise reduction, Williamson trade-off model, Digital technology - Trade-offs, Indium tin oxide - Constraints and trade-offs, Disease resistance in fruit and vegetables - Trade-off of breeding for resistance, Incidence list - Trade-offs, Decision fatigue - Reduced ability to make trade-offs, End-to-end principle Early trade-offs: experiences in the Arpanet, Trade-off - Other uses of the term trade-off, Patient trade-off, Patient trade-off - Life expectancy and sexual function trade off, Evolutionary medicine - Trade-offs and conflicts, Patient trade-off - Issues needing research, Argument from poor design - Optimal design engineering and trade-offs, Williamson trade-off model - Basic idea of the model, Williamson trade-off model - Applications in anti-trust policy, Digital electronics - Trade-offs, Capital structure - Trade-off theory, Heuristic algorithm - Trade-off, Patient trade-off - Stress of making trade-off decisions, Choice Modelling - Preferences as choice trade-offs, Williamson trade-off model - Criticisms and limitations, Emotion and memory - Trade-off between details, Trade-off - Trade-offs in other specific fields, Trade-off theory of capital structure, Trade-off - Analytical methods to support a trade study, Differential privacy - Trade-off between utility and privacy, and much more...

Tradeoff Decisions in System Design

Author : A. Terry Bahill
Publisher : Springer
ISBN 13 : 3319437127
Total Pages : 716 pages
Book Rating : 4.3/5 (194 download)

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Book Synopsis Tradeoff Decisions in System Design by : A. Terry Bahill

Download or read book Tradeoff Decisions in System Design written by A. Terry Bahill and published by Springer. This book was released on 2016-12-14 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook is about three key aspects of system design: decision making under uncertainty, trade-off studies and formal risk analyses. Recognizing that the mathematical treatment of these topics is similar, the authors generalize existing mathematical techniques to cover all three areas. Common to these topics are importance weights, combining functions, scoring functions, quantitative metrics, prioritization and sensitivity analyses. Furthermore, human decision-making activities and problems use these same tools. Therefore, these problems are also treated uniformly and modeled using prospect theory. Aimed at both engineering and business practitioners and students interested in systems engineering, risk analysis, operational management, and business process modeling, Tradeoff Decisions in System Design explains how humans can overcome cognitive biases and avoid mental errors when conducting trade-off studies and risk analyses in a wide range of domains. With generous use of examples as a common thread across chapters this book. “This book provides an excellent road map for designing and producing competitive products.”

Reducing the Logistics Burden for the Army After Next

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309173329
Total Pages : 224 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Reducing the Logistics Burden for the Army After Next by : National Research Council

Download or read book Reducing the Logistics Burden for the Army After Next written by National Research Council and published by National Academies Press. This book was released on 1999-03-22 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study assesses the potential of new technology to reduce logistics support requirements for future Army combat systems. It describes and recommends areas of research and technology development in which the Army should invest now to field systems that will reduce logistics burdens and provide desired capabilities for an "Army After Next (AAN) battle force" in 2025.

For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation

Author : Mr. Andrew Berg
Publisher : International Monetary Fund
ISBN 13 : 1513592963
Total Pages : 44 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation by : Mr. Andrew Berg

Download or read book For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation written by Mr. Andrew Berg and published by International Monetary Fund. This book was released on 2021-07-16 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from automation more widely, for the benefit of all? And what are the attendant equity-efficiency trade-offs? We analyze this issue by considering the effects of fiscal policies that seek to redistribute the gains from automation and address income inequality. We use a dynamic general equilibrium model with monopolistic competition, including a novel specification linking corporate power to automation. While fiscal policy cannot eliminate the classic equity-efficiency trade-offs, it can help improve them, reducing inequality at small or no loss of output. This is particularly so when policy takes advantage of novel, less distortive transmission channels of fiscal policy created by the empirically observed link between corporate market power and automation.

The Power of And

Author : R. Edward Freeman
Publisher : Columbia University Press
ISBN 13 : 0231547897
Total Pages : 202 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis The Power of And by : R. Edward Freeman

Download or read book The Power of And written by R. Edward Freeman and published by Columbia University Press. This book was released on 2020-06-16 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The idea that business is only about the money doesn’t hold true in the twenty-first century, when companies around the world are giving up traditional distinctions in order to succeed. Yet our expectations for businesses remain under the sway of an outdated worldview that emphasizes profits for shareholders above all else. The Power of And offers a new narrative about the nature of business, revealing the focus on responsibility and ethics that unites today’s most influential ideas and companies. R. Edward Freeman, Kirsten E. Martin, and Bidhan L. Parmar detail an emerging business model built on five key concepts: prioritizing purpose as well as profits; creating value for stakeholders as well as shareholders; seeing business as embedded in society as well as markets; recognizing people’s full humanity as well as their economic interests; and integrating business and ethics into a more holistic model. Drawing on examples across companies, industries, and countries, they show that these values support persevering in hard times and prospering over the long term. Real-world success stories disprove the conventional wisdom that there are unavoidable trade-offs between acting ethically and succeeding financially. The Power of And presents a conceptual revolution about what it means for business to be responsible, providing a new story for us to tell in order to help all kinds of companies thrive.

Capital Structure in the Modern World

Author : Anton Miglo
Publisher : Springer
ISBN 13 : 3319307134
Total Pages : 266 pages
Book Rating : 4.3/5 (193 download)

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Book Synopsis Capital Structure in the Modern World by : Anton Miglo

Download or read book Capital Structure in the Modern World written by Anton Miglo and published by Springer. This book was released on 2016-07-20 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on microeconomic foundations of capital structure theory. It combines theoretical results with a large number of examples, exercises and applications. The book examines fundamental ideas in capital structure management, some of which are still not very well understood in the business community, such as Modigliani and Miller’s irrelevance result, trade-off theory, pecking-order theory, asset substitution, credit rationing and debt overhang. Chapters also cover capital structure issues that have become very important following the recent financial crisis. Miglo discusses the ways in which financial economists were forced to look critically at capital structure, as the problems faced by many companies stemmed from their financing policies following the crisis. The book also discusses links between capital structure and firm’s performance, corporate governance, firm’s strategy and flexibility, and covers such topics as life cycle approach to capital structure management, capital structure of small and start-up companies, corporate financing versus project financing and examples of optimal capital structure analyses for different companies. This comprehensive guide to capital structure theory will be of interest to all students, academics and practitioners seeking to understand this fast-developing and critical area of business management.

Capital Structure and Corporate Financing Decisions

Author : H. Kent Baker
Publisher : John Wiley & Sons
ISBN 13 : 1118022947
Total Pages : 504 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Capital Structure and Corporate Financing Decisions by : H. Kent Baker

Download or read book Capital Structure and Corporate Financing Decisions written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-03-31 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.

Capital Structure and International Debt Shifting

Author : Mr. Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 1451910568
Total Pages : 40 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Capital Structure and International Debt Shifting by : Mr. Luc Laeven

Download or read book Capital Structure and International Debt Shifting written by Mr. Luc Laeven and published by International Monetary Fund. This book was released on 2007-02-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a model of a multinational firm''s optimal debt policy that incorporates international taxation factors. The model yields the prediction that a multinational firm''s indebtedness in a country depends on a weighted average of national tax rates and differences between national and foreign tax rates. These differences matter because multinationals have an incentive to shift debt to high-tax countries. The predictions of the model are tested using a novel firm-level dataset for European multinationals and their subsidiaries, combined with newly collected data on the international tax treatment of dividend and interest streams. Our empirical results show that corporate debt policy indeed not only reflects domestic corporate tax rates but also differences in international tax systems. These findings contribute to our understanding of how corporate debt policy is set in an international context.

Empirical Capital Structure

Author : Christopher Parsons
Publisher : Now Publishers Inc
ISBN 13 : 160198202X
Total Pages : 107 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Empirical Capital Structure by : Christopher Parsons

Download or read book Empirical Capital Structure written by Christopher Parsons and published by Now Publishers Inc. This book was released on 2009 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical Capital Structure reviews the empirical capital structure literature from both the cross-sectional determinants of capital structure as well as time-series changes.

The Trade-Off Model with Mean Reverting Earnings

Author : Sudipto Sarkar
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Trade-Off Model with Mean Reverting Earnings by : Sudipto Sarkar

Download or read book The Trade-Off Model with Mean Reverting Earnings written by Sudipto Sarkar and published by . This book was released on 2003 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The biggest criticism of the traditional trade-off theory of capital structure is that it predicts a positive relationship between earnings and leverage, contradictory to well-established empirical evidence. One possible explanation for this discrepancy might lie in the mean reverting nature of corporate earnings. We therefore re-formulate the trade-off model, with mean reverting earnings. The optimal leverage ratio is computed in the usual manner, by trading off the tax benefits of debt with its associated financial distress costs. Our main result is a negative relationship between optimal leverage and earnings. The model also highlights the importance of the earnings reversion parameter in determining the optimal capital structure. The major implications of the model are supported by empirical tests carried out with Compustat data for firms in the Samp;P 500 Index.

The Ethical Algorithm

Author : Michael Kearns
Publisher : Oxford University Press
ISBN 13 : 0190948221
Total Pages : 288 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis The Ethical Algorithm by : Michael Kearns

Download or read book The Ethical Algorithm written by Michael Kearns and published by Oxford University Press. This book was released on 2019-10-04 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the course of a generation, algorithms have gone from mathematical abstractions to powerful mediators of daily life. Algorithms have made our lives more efficient, more entertaining, and, sometimes, better informed. At the same time, complex algorithms are increasingly violating the basic rights of individual citizens. Allegedly anonymized datasets routinely leak our most sensitive personal information; statistical models for everything from mortgages to college admissions reflect racial and gender bias. Meanwhile, users manipulate algorithms to "game" search engines, spam filters, online reviewing services, and navigation apps. Understanding and improving the science behind the algorithms that run our lives is rapidly becoming one of the most pressing issues of this century. Traditional fixes, such as laws, regulations and watchdog groups, have proven woefully inadequate. Reporting from the cutting edge of scientific research, The Ethical Algorithm offers a new approach: a set of principled solutions based on the emerging and exciting science of socially aware algorithm design. Michael Kearns and Aaron Roth explain how we can better embed human principles into machine code - without halting the advance of data-driven scientific exploration. Weaving together innovative research with stories of citizens, scientists, and activists on the front lines, The Ethical Algorithm offers a compelling vision for a future, one in which we can better protect humans from the unintended impacts of algorithms while continuing to inspire wondrous advances in technology.

Corporate Capital Structures in the United States

Author : Benjamin M. Friedman
Publisher : University of Chicago Press
ISBN 13 : 0226264238
Total Pages : 404 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Corporate Capital Structures in the United States by : Benjamin M. Friedman

Download or read book Corporate Capital Structures in the United States written by Benjamin M. Friedman and published by University of Chicago Press. This book was released on 2009-05-15 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.