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Recent Developments in Corporate Finance
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  • Page extent: 256 pages
  • Size: 228 x 152 mm
  • Weight: 0.55 kg

Library of Congress

  • Dewey number: 658.1/5
  • Dewey version: 19
  • LC Classification: HG4026.5 .R435 1986
  • LC Subject headings:
    • Corporations--Finance

Library of Congress Record

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 (ISBN-13: 9780521329644 | ISBN-10: 0521329647)

DOI: 10.2277/0521329647

Manufactured on demand: supplied direct from the printer

 (Stock level updated: 17:01 GMT, 26 November 2015)


This book was originally published in 1986. During the decade preceding publication there were a number of significant developments in financial economics and major contributions made both by individuals who could be classified as conventional financial economists and by others who do not fit easily into this category - theoretical microeconomists, public and industrial economists. This volume contains a selection from the papers presented at a conference in Oxford in September 1985 which aimed to bring together a number of the leading participants in this field. The papers in the volume cover a wide range of topics - the efficiency of financial markets, new equity issues, asymmetric corporate taxation and investment, credit rationing, international investment, the foundations of banking theory - but they clearly reflect the main themes in financial economics at the time: the importance of informational asymmetries and of taxation.


List of tables; List of figures; Preface; Introduction Jeremy Edwards, Julian Franks, Colin Mayer and Stephen Schaefer; Part I. Financial Markets: 1. Do we really know that financial markets are efficient? Lawrence H. Summers; Comment Richard A. Brealey; Part II. Issues in Corporate Finance: 2. Precommitment to equity financing choices in a world of asymmetric information Robert Heinkel and Eduardo Schwartz; Comment Steven M. Fries; 3. Equity issues and offering dilution Paul Asquith and David Mullins Jr.; 4. Effects of asymmetric taxation on the scale of corporate investment Richard C. Green and Eli Talmor; Part III. Banking: 5. Credit rationing and collateral Joseph Stiglitz and Andrew Weiss; Comment Oliver D. Hart; 6. Competitive banking in a simple model Luca Anderlini; Comment David C. Webb; Part International Finance: 7. A cost of capital approach to the taxation of foreign direct investment income Julian Alworth; 8. Costs to crossborder investment and international equity market equilibrium Ian Cooper and Evi Kaplanis.


Jeremy Edwards, Julian Franks, Colin Mayer, Stephen Schaefer, Lawrence H. Summers, Richard A. Brealey, Robert Heinkel, Eduardo Schwartz, Steven M. Fries, Paul Asquith, David Mullins Jr., Richard C. Green, Eli Talmor, Joseph Stiglitz, Andrew Weiss, Oliver D. Hart, Luca Anderlini, David C. Webb, Julian Alworth, Ian Cooper, Evi Kaplanis

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