Description
Book SynopsisIn recent years, European financial economists have been brought together, via research projects and bubble01ces, by the Centre for Economic Policy Research (CEPR). These fruitful interactions have contributed to the development of financial economics in Europe, and have generated a strong flow of interesting writing---both theoretical and empirical---in the fields of financial markets and corporate finance.One of the common questions posed by researchers in this field is why security markets have such different roles and importance relative to banks in different countries. A related issue is whether these different financial arrangements matter for the functioning of the real economy. The first section of this volume approaches these issues by focusing on the functioning of the primary equity market, or the process by which companies ''go public'', which marks the transition from complete reliance on bank financing to partial reliance on security markets. The second section approaches
Table of Contents1. WHY DO COMPANIES GO PUBLIC?: AN EMPIRICAL ANALYSIS; 6. FINANCIAL SYSTEM ARCHITECTURE; 8. OPTIMAL DEBT STRUCTURE AND THE NUMBER OF CREDITORS; 11. SURVIVAL OF THE FITTEST OR THE FATTEST?: EXIT AND FINANCING IN THE TRUCKING INDUSTRY
