Capital Structure and Corporate Financing Decisions – Theory, Evidence and Practice
Theory, Evidence, and Practice
Gebonden Engels 2011 9780470569528Samenvatting
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.
Specificaties
Lezersrecensies
Inhoudsopgave
<p>1 Capital Structure: An Overview 1<br /> H. Kent Baker and Gerald S. Martin</p>
<p>PART I The Elements of Capital Structure 15</p>
<p>2 Factors Affecting Capital Structure Decisions 17<br /> Wolfgang Bessler, Wolfgang Drobetz, and Robin Kazemieh</p>
<p>3 Capital Structure and Corporate Strategy 41<br /> Maurizio La Rocca</p>
<p>4 Capital Structure and Firm Risk 59<br /> Valentin Dimitrov</p>
<p>5 Capital Structure and Returns 75<br /> Yaz Gulnur Muradoglu and Sheeja Sivaprasad</p>
<p>6 Capital Structure and Compensation 93<br /> Alan Victor Scott Douglas</p>
<p>7 Worldwide Patterns in Capital Structure 111<br /> Carmen Cotei and Joseph Farhat</p>
<p>PART II Capital Structure Choice 127</p>
<p>8 Capital Structure Theories and Empirical Tests: An Overview 129<br /> Stein Frydenberg</p>
<p>9 Capital Structure Irrelevance: TheModigliani–Miller Model 151<br /> Sergei V. Cheremushkin</p>
<p>10 Trade–Off, Pecking Order, Signaling, and Market Timing Models 171<br /> Anton Miglo</p>
<p>11 Estimating Capital Costs: Practical Implementation of Theory′s Insights 191<br /> Robert M. Conroy and Robert S. Harris</p>
<p>12 Economic, Regulatory, and Industry Effects on Capital Structure 211<br /> Paroma Sanyal</p>
<p>13 Survey Evidence on Financing Decisions and Cost of Capital 229<br /> Franck Bancel and Usha R. Mittoo</p>
<p>14 Survey Evidence on Capital Structure: Non–U.S. Evidence 249<br /> Abe de Jong and Patrick Verwijmeren</p>
<p>PART III Raising Capital 261</p>
<p>15 The Roles of Financial Intermediaries in Raising Capital 263<br /> Neal Galpin and Heungju Park</p>
<p>16 Bank Relationships and Collateralization 281<br /> Aron A. Gottesman and Gordon S. Roberts</p>
<p>17 Rating Agencies and Credit Insurance 299<br /> John Patrick Hunt</p>
<p>18 Secured Financing 319<br /> Hugh Marble III</p>
<p>19 Sale and Leasebacks 335<br /> Kyle S. Wells</p>
<p>PART IV Special Topics 351</p>
<p>20 Financial Distress and Bankruptcy 353<br /> Kimberly J. Cornaggia</p>
<p>21 Fiduciary Responsibility and Financial Distress 371<br /> Remus D. Valsan and Moin A. Yahya</p>
<p>22 The Lease versus Buy Decision 387<br /> Sris Chatterjee and An Yan</p>
<p>23 Private Investment in Public Equity 401<br /> William K. Sjostrom Jr.</p>
<p>24 Financing CorporateMergers and Acquisitions 419<br /> Wolfgang Bessler, Wolfgang Drobetz, and Jan Zimmermann</p>
<p>Answers to Chapter Discussion Questions 445</p>
<p>Index 475</p>
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