A Reader in International Corporate Finance - Vol. 1

A Reader in International Corporate Finance - Vol. 1

A Reader in International Corporate Finance - Vol. 1

A Reader in International Corporate Finance - Vol. 1

Synopsis

'A Reader in International Corporate Finance' offers an overview of current thinking on six topics: law and finance, corporate governance, banking, capital markets, capital structure and financing constraints, and the political economy of finance. This collection of 23 of the most influential articles published in the period 2000-2006 reflects two new trends:
• interest in international aspects of corporate finance, particularly specific to emerging markets,
• awareness of the importance of institutions in explaining global differences in corporate finance.

Excerpt

This two-volume set reprints more than twenty of what we think are the most influential articles on international corporate finance published over the course of the past six years. the book covers a range of topics covering the following six areas: law and finance, corporate governance, banking, capital markets, capital structure and financing constraints, and political economy of finance. All papers have appeared in top academic journals and have been widely cited in other work.

The purpose of the book is to make available to researchers and students, in an easy way and at an affordable price, a collection of articles offering a review of the present thinking on topics in international corporate finance. the book is ideally suited as an accompaniment to existing textbooks for courses on corporate finance and emerging market finance at the graduate economics, law, and mba levels.

The articles selected reflect two major trends in the corporate finance literature that are significant departures from prior work: One is the increased interest in international aspects of corporate finance, particularly topics specific to emerging markets. the other is the increased awareness of the importance of institutions in explaining differences in corporate finance patterns—at the country and firm levels—around the world. the latter has culminated in a new literature known as the “law and finance literature,” which focuses on the legal underpinnings of finance. It has also been accompanied by a greater understanding of the importance of political economy factors in countries’ economic development and has led to the increased application of a political economy framework to the study of corporate finance.

This collection offers an overview of the present thinking on topics in international corporate finance. We hope that the papers in this book will serve the role of gathering in one place the background reading most often used for an advanced course in corporate finance. We also think that researchers will appreciate the benefit of having all these articles in one place, and we hope that the book will stimulate new research and thinking in this exciting new field. We trust the students and their instructors will deepen their understanding of international corporate finance by reading the papers. of course, any of the remaining errors in the papers included in this book are entirely those of the authors and not of the editors.

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