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  • 1
    Online Resource
    Online Resource
    Abingdon, Oxon ; : Routledge,
    UID:
    almahu_9949386282702882
    Format: 1 online resource (vi, 97 pages) : , illustrations
    ISBN: 1000320499 , 9781003016380 , 1003016383 , 9781000320510 , 1000320510 , 9781000320534 , 1000320537 , 9781000320497
    Content: "Capital structure choice is essential for an institution to maximize its value. Because the institution's decision maker decides how to finance projects before making investment decisions, her financial decisions ultimately affect every aspect of operations thereafter. This book discusses several key theories of corporate capital structure to answer how funding structure shapes an institution's value. In this book, the author emphasizes microeconomic foundations of capital structure theory. He shows how various microeconomic frameworks, such as price and game theories, principal-agent model, and mechanism design, can be applied to solve the optimal capital structure of a firm. By getting used to optimize corporate capital structure subject to various constraints via microeconomic frameworks, readers become capable of investigating how to finance projects in their own setups. Thus, this book not only informs readers of specific knowledge, but also provides them with tools to solve new problems that they will face in their future. This will be a valuable resource for students of corporate finance at the post-graduate or doctoral level, and also serves as the material for professional training aimed to practitioners and regulators with technical expertise"--
    Additional Edition: Print version: Asai, Kentaro. Corporate finance and capital structure. Abingdon, Oxon ; New York, NY : Routledge, 2021 ISBN 9780367860066
    Language: English
    Keywords: Electronic books. ; Electronic books. ; Electronic books.
    Library Location Call Number Volume/Issue/Year Availability
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  • 2
    Online Resource
    Online Resource
    Oxford : Taylor and Francis Group
    UID:
    kobvindex_INT73484
    Format: 1 online resource (105 pages)
    Edition: 1st ed.
    ISBN: 9780367860059 , 9781000320497
    Content: This book discusses several key theories of corporate capital structure to answer how funding structure shapes an institution's value. The author shows how various microeconomic frameworks, such as price and game theories, principal-agent model, and mechanism design, can be applied to solve the optimal capital structure of a firm
    Note: Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- 1 Introduction -- 1.1 What this book is about -- 1.2 Chapter overview -- 2 Capital structure choice in a frictionless world -- 2.1 Overview -- 2.2 Frictionless capital market -- 2.3 Additivity and uniqueness of security valuation -- 2.4 Neutrality of capital structure -- 2.5 Discussion -- 3 Trade-off theory -- 3.1 Criticism against Modigliani and Miller -- 3.2 Tax benefit of debt and bankruptcy costs -- 3.3 Empirical evidence -- 3.4 Discussion -- 4 Agency theory -- 4.1 Overview -- 4.2 Safe debt can mitigate agency problem -- 4.3 Risky debt can aggravate agency problem -- 4.4 Debt overhang and risk shifting -- 4.5 Discussion -- 5 Security design -- 5.1 Overview -- 5.2 Optimal risk-sharing with moral hazard -- 5.3 Financial contract under limited liability -- 5.4 Financial contract under costly state verification -- 5.5 Optimal allocation of control rights -- 5.6 Discussion -- 6 Asymmetric information -- 6.1 Overview -- 6.2 Underpricing in an initial public offering -- 6.3 Signaling through retained ownership -- 6.4 Signaling through debt -- 6.5 Pecking-order versus trade-off theory -- 6.6 Discussion -- 7 Continuous-time model -- 7.1 Overview -- 7.2 Derivative valuation model -- 7.3 Capital structure irrelevance revisited -- 7.4 Derivative valuation under a stationary case -- 7.5 Trade-off theory revisited -- 7.6 Discussion -- 8 Capital structure of a bank -- 8.1 Two roles of a bank -- 8.2 Bank run and deposit insurance -- 8.3 Unintended consequence of deposit insurance -- 8.4 Capital regulation -- 8.5 Ongoing debate on capital regulation -- 8.6 Discussion -- Index
    Additional Edition: Print version Asai, Kentaro Corporate Finance and Capital Structure Oxford : Taylor & Francis Group,c2020 ISBN 9780367860059
    Language: English
    Keywords: Electronic books
    URL: FULL  ((OIS Credentials Required))
    Library Location Call Number Volume/Issue/Year Availability
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