Dynamical corporate finance [electronic resource] : an equilibrium approach / Umberto Sagliaschi, Roberto Savona.

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Dynamical corporate finance [electronic resource] : an equilibrium approach / Umberto Sagliaschi, Roberto Savona.

9783030778538 (electronic bk.)
3030778533 (electronic bk.)
3030778525
9783030778521

Cham, Switzerland : Springer, 2021.

English

1 online resource.

10.1007/978-3-030-77853-8 doi

HG4026

658.15

The way in which leverage and its expected dynamics impact on firm valuation is very different from what is assumed by the traditional static capital structure framework. Recent work that allows the firm to restructure its debt over time proves to be able to explain much of the observed cross-sectional and time-series variation in leverage, while static capital structure predictions do not. The purpose of this book is to re-characterize the firm valuation process within a dynamical capital structure environment, by drawing on a vast body of recent and more traditional theoretical insights and empirical findings on firm evaluation, also including asset pricing literature, offering a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm debt and equity accordingly.

Includes bibliographical references.

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Online resource; title from PDF title page (SpringerLink, viewed August 16, 2021).

Contributions to finance and accounting.

Print version: 9783030778521

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