Recent Developments in Corporate Finance

Product Description This innovative two-volume set reprints 24 of the most influential articles on corporate finance published during the period 1996-2003. Five topics are covered: capital structure, securities issuance, payout policy, corporate governance and diversification and internal capital markets. The articles selected reflect two major evolutionary trends and two rather significant departures from prior work. The two trends are the integration of industrial organization theories into finance and the continued refinement of ideas related to the impact of taxation on corporate decision making. The two departures are the increased focus on law and finance and the increased willingness to adopt behavioral approaches.This important collection offers an overview of present thinking and raises new questions in corporate finance. Review 'This book contains an excellent selection of post-1995 contributions to the corporate finance literature. It provides especially thorough coverage of the interface of law and finance, which is probably the most important new line of research in corporate finance in the last ten years. A nice, and particularly useful, touch is the inclusion of a few perhaps under-appreciated articles (most notably, J.B. Heaton's "Managerial Optimism and Corporate Finance") that have significant potential to help shape future research. Any serious student of corporate finance will find this collection to be a useful addition to his or her library.' About the Author Edited by Jay R. Ritter, Cordell Professor of Finance, University of Florida, US