Filling a major gap in the field, "The Theory of Corporate Finance" is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Whereas, once the subject addressed mainly the financing of corporations - equity, debt, and valuation - today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. The past twenty years have seen great theoretical and empirical advances in the field of corporate finance.
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