OXFORD UNIVERSITY PRESS

Let's Go Special Pack
 

Firms, Contracts, and Financial Structure

ISBN : 9780198288817

参考価格(税込): 
¥6,292
著者: 
Oliver Hart
関連カテゴリー
ページ
240 ページ
フォーマット
Paperback
サイズ
138 x 216 mm
刊行日
1995年10月
シリーズ
Clarendon Lectures in Economics
メール送信
印刷

This book provides a framework for thinking about economic instiutions such as firms. The basic idea is that institutions arise in situations where people write incomplete contracts and where the allocation of power or control is therefore important. Power and control are not standard concepts in economic theory. The book begins by pointing out that traditional approaches cannot explain on the one hand why all transactions do not take place in one huge firm and on the other hand why firms matter at all. An incomplete contracting or property rights approach is then developed. It is argued that this approach can throw light on the boundaries of firms and on the meaning of asset ownership. In the remainder of the book, incomplete contacting ideas are applied to understand firms' financial decisions, in particular, the nature of debt and equity (why equity has votes and creditors have foreclosure rights); the capital structure decisions of public companies; optimal bankruptcy procedure; and the allocation of voting rights across a company's shares. The book is written in a fairly non-technical style and includes many examples. It is aimed at advanced undergraduate and graduate students, academic and business economists, and lawyers as well as those with an interest in corporate finance, privatization and regulation, and transitional issues in Eastern Europe, the former Soviet Union, and China. Little background knowledge is required, since the concepts are developed as the book progresses and the existing literature is fully reviewed.

目次: 

1. Established Theories of the Firm
2. The Property Rights Approach
3. Further Issues Arising from the Property Rights Approach
4. A Discussion of the Foundations of the Incomplete Contracting Model
5. Theories of Financial Contracting and Debt
6. Capital Structure Decisions of a Public Company
7. Bankruptcy Procedure
8. The Structure of Voting Rights in a Public Company

著者について: 

Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University

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