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Профессиональный Документы
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Contents
Acknowledgements
Approach
References
xi
Introduction
An Economic Overview of
Corporate Institutions
10
Corporate Financing:
Some Stylized Facts
75
2.1
Introduction
75
2.2
Structure Puzzle
77
2.3
Debt Instruments
80
2.4
Equity Instruments
90
2.5
Financing Patterns
95
2.6
Conclusion
102
Appendixes
13
2.7
103
2.8
Loan Covenants
103
References
106
111
113
113
Corporate Governance
15
1.1
15
1.2
20
1.3
29
1.4
Investor Activism
36
1.5
43
1.6
51
1.7
International Comparisons of
the Policy Environment
3.1
Introduction
53
3.2
of Credit Rationing
115
56
3.3
Debt Overhang
125
3.4
Multiplier
127
1.8
Supplementary Section
1.9
62
Appendixes
Supplementary Sections
3.5
65
67
68
References
II
130
3.6
Veriable Income
132
3.7
Semiveriable Income
138
viii
Contents
3.8
Nonveriable Income
141
3.9
Exercises
144
References
154
6.2
6.3
241
Dissipative Signals
249
Supplementary Section
6.4
4
Some Determinants of
Borrowing Capacity
An Introduction
264
157
Appendixes
4.1
4.2
4.3
4.4
4.5
Collateralization
The LiquidityAccountability Tradeo
Restraining the Ability to Borrow:
Inalienability of Human Capital
269
6.6
270
6.7
271
164
171
6.8
271
6.9
272
177
6.10 Exercises
157
158
6.5
Supplementary Sections
4.6
4.7
4.8
180
183
188
References
195
199
5.1
Introduction
199
5.2
201
273
References
280
Earnings Manipulations
283
7.1
283
7.2
299
Supplementary Section
5.3
207
5.4
213
5.5
220
5.6
225
5.7
Exercises
229
References
235
7.3
318
7.4
Exercises
322
References
327
331
Speculation
333
333
338
III
8.1
237
Introduction
237
8.2
6.1
Contents
ix
8.3
Market Monitoring
8.4
350
Exercises
353
References
353
8.5
345
11
355
9.1
Introduction
355
9.2
356
9.3
366
9.4
Learning by Lending
369
9.5
374
Exercises
379
References
382
9.6
Security Design:
The Control Right View
425
425
426
429
431
438
440
441
11.9 Exercise
441
10.1 Introduction
References
442
Security Design:
The Demand Side View
445
447
385
12
10
425
11.1 Introduction
V
IV
Takeovers
387
12.1 Introduction
447
387
447
389
12.3 Runs
454
398
457
404
Supplementary Sections
Supplementary Sections
12.5 Aggregate Uncertainty and Risk Sharing
461
463
466
411
415
10.7 Exercises
418
12.7 Exercises
References
422
References
467
VI
13
Contents
13.1 Introduction
469
471
523
527
15.5 Exercises
530
471
References
532
535
16
478
484
489
13.6 Exercises
493
References
14
495
497
14.1 Introduction
497
499
509
14.4 Exercises
515
References
15
15.1 Introduction
16.1 Introduction
535
537
544
551
Supplementary Sections
16.5 Contracting Institutions,
Financial Structure, and
555
560
16.7 Exercises
563
VII
516
References
567
569
571
Review Problems
625
633
Index
641
517
517