Dynamical corporate finance : an equilibrium approach / Umberto Sagliaschi, Roberto Savona.
Sagliaschi, Umberto.; Savona, Roberto, author.
2021
HG4026
Available Online

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Title Dynamical corporate finance : an equilibrium approach / Umberto Sagliaschi, Roberto Savona.
Author Sagliaschi, Umberto.
ISBN 9783030778538 (electronic bk.)
3030778533 (electronic bk.)
3030778525
9783030778521
DOI https://doi.org/10.1007/978-3-030-77853-8
Imprint Cham, Switzerland : Springer, 2021.
Language English
Description 1 online resource
Other Standard Identifiers 10.1007/978-3-030-77853-8 doi
Call Number HG4026
Dewey Decimal Classification 658.15
Summary 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.
Bibliography, etc. Note Includes bibliographical references.
Access Note Access limited to authorized users.
Source of Description Online resource; title from PDF title page (SpringerLink, viewed August 16, 2021).
Added Author Savona, Roberto, author.
Series Contributions to finance and accounting, 2730-6038
Available in Other Form Print version: 9783030778521
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Chapter 1. Introduction
Chapter 2. The Value of the Firm and its Securities
Chapter 3. Borrowing Constraints, Debt Dynamics and Investment Decisions
Chapter 4. Imperfect Competition, Working Capital and Tobin's Q
Chapter 5. Continuous Time Models, Unsecured Debt and Commitment
Chapter 6. Dynamic Capital Structure without Commitment
Chapter 7. Extensions.

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