Handbook of the economics of finance: vol 2A

Table of Contents
Introduction to the Series

Preface

VOLUME2A Corporate Finance

Chapter 1. Securitization

1 Introduction

2 Securitization: Some Institutional Details

3 Overview of the Performance of Asset-Backed Securities

4 A Simple Model of the Securitization Decision

5 The Origins of Securitization

6 Security Design and the Cost of Capital: Theory

7 Security Design and the Cost of Capital: Evidence

8 Securitization, Regulation, and Public Policy

9 Final Comments and Open Questions

References

Chapter 2. Dynamic Security Design and Corporate Financing

1 Introduction

2 Informational Problems in Static Models

3 Simple Securities in Dynamic Models

4 Optimal Dynamic Security Design under Moral Hazard

5 Asymmetric Information in Dynamic Settings

References

Chapter 3. Do Taxes Affect Corporate Decisions? A Review

1 Introduction

2 Taxes and Capital Structure—The US Tax System

3 Taxes and Capital Structure—Multinational Tax Issues

4 Taxes, LBOs, Corporate Restructuring, and Organizational Form

5 Taxes and Payout Policy

6 Taxes and Compensation Policy

7 Taxes, Corporate Risk Management, and Earnings Management

8 Tax Shelters

9 Summary and Suggestions for Future Research

References

Chapter 4. Executive Compensation: Where We Are, and How We Got There

1 Introduction

2 Where We are: A Primer on Executive Compensation

3 How We Got There: A Brief History of CEO Pay

4 International Comparisons: Are US CEOs Still Paid More?

5 Towards a General Theory of Executive Compensation

References

Chapter 5. Behavioral Corporate Finance: An Updated Survey

1 Introduction

2 Market Timing and Catering

3 Managerial Biases

4 Behavioral Signaling

5 Some Open Questions

References

Chapter 6. Law and Finance After a Decade of Research

1 Introduction

2 Background on Legal Origins

3 Some Evidence

4 Explaining the Facts

5 Legal Origins and Culture

6. Legal Origins and Politics

7 Legal Origins and History

8 Conclusion

References

Chapter 7. Endogeneity in Empirical Corporate Finance

1 Introduction

2 The Causes and Consequences of Endogeneity

3 Instrumental Variables

4 Difference-in-Differences Estimators

5 Regression Discontinuity Design

6 Matching Methods

7 Panel Data Methods

8 Econometric Solutions to Measurement Error

9 Conclusion

References

Chapter 8. A Survey of Venture Capital Research

1 Introduction

2 Data Sources and Methodology for Empirical Research

3 Venture Capital Investments in Entrepreneurial Companies

4 The Analysis of Venture Capital Firms

5 Returns to Venture Capital Investments

6 Venture Capital and the Economy

7 Conclusion

References

Chapter 9. Entrepreneurship and the Family Firm

1 Creative Destruction and the Family Firm

2 The Succession Decision

3 Economic Development and the Family Firm

4 The Importance of Oligarchs

5 Schumpeter and Chandler, Reconciled?

References

Chapter 10. Financing in Developing Countries

1 Introduction

2 Stylized Facts About Firms in Developing Countries

3 Firms in Developing Countries—Theories and Empirical Research Issues

4 Institutions and Access to Finance in Developing Countries

5 Firm Financing in Developing Countries

6 Bank-based Versus Market-based Systems

7 Formal and Informal Systems

8 Conclusion

References

Chapter 11. Financial Intermediation, Markets, and Alternative Financial Sectors

1 Introduction

2 State of the Financial System and Firms’ Financing Channels

3 Firms’ Financing Channels: The Role of Alternative Finance

4 Comparing Traditional and Alternative Financial Sectors

5 Concluding Remarks

References

Index

In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship in corporate finance. Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articles reveal how specializations resonate with each other and indicate likely directions for future research. By including both established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003).