Corporate Capital Structures in the United States
1. Auflage
Erschienen am 15. Mai 2009
403 Seiten
978-0-226-26423-3 (ISBN)
Beschreibung
The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate ",The Changing Role of Debt and Equity in Financing U.S. Capital Formation.", The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financialunderpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.
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Inhalt
- Intro
- Contents
- In Memoriam
- Acknowledgments
- Corporate Capital Structure in the United States: An Introduction and Overview
- 1. Secular Patterns in the Financing of U.S. Corporations
- Comment
- 2. Changes in the Balance Sheet of the U.S. Manufacturing Sector, 1926-1977
- Comment
- 3. Debt and Equity Yields, 1926-1980
- Comment
- 4. Inflation and the Role of Bonds in Investor Portfolios
- Comment
- 5. The Substitutability of Debt and Equity Securities
- Comment
- 6. Contingent Claims Valuation of Corporate Liabilities: Theory and Empirical Tests
- Comment
- 7. Capital Structure Change and Decreases in Stockholders' Wealth: A Cross-sectional Study of Convertible Security Calls
- Comment
- 8. Real Determinants of Corporate Leverage
- Comment
- 9. Investment Patterns and Financial Leverage
- Comment
- 10. Capital Structure and the Corporation's Product Market Environment
- Comment
- List of Contributors
- Author Index
- Subject Index
