Capital & Its Structure

Capital & Its Structure PDF

Author: Lachmann

Publisher: Ludwig von Mises Institute

Published: 2007

Total Pages:

ISBN-13: 9781610160339

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Ludwig Lachmann in 1956 set out to correct the problem that the economics profession had no coherent and working understanding of capital, a concept so integral to economic science and yet not explored at length since the takeover of macroeconomics by Keynesian theory. The result was his most lasting contribution to economic theory. He expands on the ideas of Boehm-Bawerk and Hayek to create a picture of the capital goods sector that incorporates all essential Austrian insights on the nature of the market process. His writing is lucid and sophisticated. Mises was impressed by this book and Rothbard drew on it for his own theory of the business cycle - having cited it often. It remains a seminal study written while he was at the height of his intellectual powers.

Capital Structure and Corporate Financing Decisions

Capital Structure and Corporate Financing Decisions PDF

Author: H. Kent Baker

Publisher: John Wiley & Sons

Published: 2011-03-31

Total Pages: 504

ISBN-13: 1118022947

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A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.

Capital Structure in the Modern World

Capital Structure in the Modern World PDF

Author: Anton Miglo

Publisher: Springer

Published: 2016-07-20

Total Pages: 254

ISBN-13: 3319307134

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This book focuses on microeconomic foundations of capital structure theory. It combines theoretical results with a large number of examples, exercises and applications. The book examines fundamental ideas in capital structure management, some of which are still not very well understood in the business community, such as Modigliani and Miller’s irrelevance result, trade-off theory, pecking-order theory, asset substitution, credit rationing and debt overhang. Chapters also cover capital structure issues that have become very important following the recent financial crisis. Miglo discusses the ways in which financial economists were forced to look critically at capital structure, as the problems faced by many companies stemmed from their financing policies following the crisis. The book also discusses links between capital structure and firm’s performance, corporate governance, firm’s strategy and flexibility, and covers such topics as life cycle approach to capital structure management, capital structure of small and start-up companies, corporate financing versus project financing and examples of optimal capital structure analyses for different companies. This comprehensive guide to capital structure theory will be of interest to all students, academics and practitioners seeking to understand this fast-developing and critical area of business management.

Capital in Disequilibrium

Capital in Disequilibrium PDF

Author: Peter Lewin

Publisher: Routledge

Published: 1998-12-17

Total Pages: 266

ISBN-13: 1134756046

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Drawing on the work of the Austrian School and its heirs, Capital in Disequilibrium develops a modern, systematic version of capital theory in order to suggest a new approach to the subject of economics. Original and provocative in his reflection, Lewin offers both a new approach and an accessible discussion of one of the most important, but also one of the most difficult, areas in economics.

Corporate Finance and Capital Structure

Corporate Finance and Capital Structure PDF

Author: Kentaro Asai

Publisher: Routledge

Published: 2020-12-30

Total Pages: 105

ISBN-13: 1000320499

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A concise guide for students to quickly grasp the essentials of capital structure theory, providing them with a “shortcut” to the comprehension of important frameworks and a “story” that allows them to see what each model is motivated by and aimed at, especially in relation to competing models. Thereby, the book exclusively allows readers to learn capital structure theory in an efficient and unified manner. In this book, the author captures, in a succinct way, the key frameworks that persistently appear in the corporate finance arena, such as the neutrality of capital structure in a frictionless capital market, trade-off theory, agency theory, security design, and information asymmetry. Suitable both as a core textbook for post-graduate or doctoral level students and as a concise guide for practitioners and regulators.

The Capital Structure Decision

The Capital Structure Decision PDF

Author: Harold Bierman Jr.

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 230

ISBN-13: 1461510376

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In 1958 an academic paper on corporate finance written by two professors (Merton Miller and Frances Modigliani, who were later awarded the Nobel prize for their research efforts) was published in The American Economic Review. One prime conclusion of their paper was that the exact form of a firm's capital structure did not affect the firm's value. Later papers by the same two authors and by many others modified the assumptions and changed this conclusion. We now think that capital structure decisions do affect a firm's value and corporate managers should understand better the financing alternatives that are available. One of the most important financial decisions is the decision to buy or lease assets. The leasing industry is large and getting larger. Unfortunately, it is very easy for a firm to evaluate incorrectly lease alternatives (see Chapter 12). The capital structure decision is one of the three most important financial decisions that management make (the distribution of earnings and the capital budgeting decisions are the other two contenders). Managers should increase their understanding of capital structure alternatives and remember that choosing the best capital structure is an art and not an exact simple calculation. But applying the art can be improved with understanding.

Time and Money

Time and Money PDF

Author: Roger W Garrison

Publisher: Routledge

Published: 2000-10-19

Total Pages: 289

ISBN-13: 1134895909

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Time and Money argues persuasively that the troubles which characterise modern capital-intensive economies, particularly the episodes of boom and bust, may best be analysed with the aid of a capital-based macroeconomics. The primary focus of this text is the intertemporal structure of capital, an area that until now has been neglected in favour of labour and money-based macroeconomics.

Structures of Capital

Structures of Capital PDF

Author: Sharon Zukin

Publisher: CUP Archive

Published: 1990-05-25

Total Pages: 468

ISBN-13: 9780521376785

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Although market importance is acknowledged, this work's emerging theme is the need to account for the ways in which multiple forms of social organization -- elite groups, communities & government structures -- influence economic processes.

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