Edward Elgar Publishing The Theory of Corporate Finance (The International Library of Critical Writings in Financial Economics series)

In The Theory of Corporate Finance, Michael J. Brennan has brought together a set of major papers which defines the current status of the theory of corporate finance. This authoritative collection emphasizes recent research, while also including representative classics in the field. The main paradigms in corporate finance are addressed in these volumes, with particular attention to the problems raised by information asymmetries and the responses to them. Major sections deal with issues including shareholder objectives, agency and monitoring, adverse selection and signalling, reputation, and contracting and incentives. The Theory of Corporate Finance also covers the application of the paradigms of corporate finance to particular aspects of corporate financial decisions and relationships. These include initial public offerings of common stock, the role of debt contracts, the relation between financial structure and the real asset and product markets, capital investment decisions, hedging and disclosure policy, insider trading, the effect of taxes on financial policy, takeover contests and the assignment of voting and control rights, and corporate bankruptcy. Michael J. Brennan’s two volume set brings together key articles and papers which represent the current state of the financial theory of the corporation, ensuring that this collection will be an invaluable resource for scholars, students and practitioners of finance and financial economics. Review ’The work is an exceptional collection of articles, one that I have already utilized in teaching a Ph.D. seminar in corporate finance. I would recommend the volumes as worthwhile investment to anyone desiring to explore the frontiers of corporate finance research.’ -- Thomas H. Noe, The Journal of Finance About the Author Edited by Michael J. Brennan, Goldyne and Irwin Hearsh Professor of Banking and Finance, University of California, Los Angeles, US