Handbook of the Economics Finance

Bol Partner

In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship in�corporate finance.� Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articles�reveal how specializations resonate with each other and indicate likely directions for future research. By including�both established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003). Presents coherent summaries of major finance fields, marking important advances and revisions Describes the best corporate finance research created about the 2008 financial crises Exposes readers to a wide range of subjects described and analyzed by the best scholars

Bol

Volume 1A covers corporate finance: how businesses allocate capital - the capital budgeting decision - and how they obtain capital - the financing decision. Though managers play no independent role in the work of Miller and Modigliani, major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm's decisions, it is therefore necessary to understand the forces that lead managers to maximize the wealth of shareholders.