Search results for ""Author Michael J. Brennan""

This outstanding collection of Michael Brennan's writing spans almost thirty years and reflects the rapid development and growing importance of the field of finance over this period.The papers cover corporate finance, option pricing and derivative markets, international finance and the role of information in financial markets. The chapters on corporate finance include Brennan's seminal 1970 paper on the effects of personal taxation on financial market equilibrium, an analysis of consistency in utility rate regulation and the classic piece on the application of options analysis to natural resource investments. The chapters on option pricing range from the earliest analysis of the American put option to a synthesis of methods of valuing derivatives, portfolio insurance and the effect of derivatives on trading volume and welfare. More recent papers include empirical asset pricing studies and an innovative proposal to strip the dividends from the S&P500 portfolio.Michael Brennan has been at the forefront of recent developments in financial economics and financial management and this collection of his work will be warmly welcomed by those working in finance, monetary economics, banking and financial sector research.

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In The Theory of Corporate Finance, Michael J. Brennan has brought together a set of major papers which defines the current status of the theory of corporate finance. This authoritative collection emphasizes recent research, while also including representative classics in the field. The main paradigms in corporate finance are addressed in these volumes, with particular attention to the problems raised by information asymmetries and the responses to them. Major sections deal with issues including shareholder objectives, agency and monitoring, adverse selection and signalling, reputation, and contracting and incentives. The Theory of Corporate Finance also covers the application of the paradigms of corporate finance to particular aspects of corporate financial decisions and relationships. These include initial public offerings of common stock, the role of debt contracts, the relation between financial structure and the real asset and product markets, capital investment decisions, hedging and disclosure policy, insider trading, the effect of taxes on financial policy, takeover contests and the assignment of voting and control rights, and corporate bankruptcy.Michael J. Brennan’s two volume set brings together key articles and papers which represent the current state of the financial theory of the corporation, ensuring that this collection will be an invaluable resource for scholars, students and practitioners of finance and financial economics.

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This four-volume collection contains a comprehensive selection of over 70 modern papers in empirical corporate finance. Empirical Corporate Finance also features a new introduction by the editor which explains the basis for the selection of the articles and relates the empirical findings they report to recent developments in corporate financial theory.The volumes are arranged by subject matter, reflecting the broad stages in the life-cycle of the firm, starting with venture capital and initial public offerings, and then moving on to events that characterize corporate maturity: dividend policy, investment policy, corporate governance issues, and financing strategy. The volumes conclude with sections on takeovers and bankruptcy.A major feature of the collection is its attention to the relation between corporate financial policy and the legal and economic framework within which the corporation operates; thus evidence is provided for the importance of asset resale markets as well as product markets for the capital structure decision; the legal framework is shown to be related to financing policies in different countries; and the existence of financial institutions such as banks and leasing companies is shown to have important consequences for financial policy. A pervasive theme of the volumes is the importance of informational asymmetries and agency relationships for understanding phenomena in corporate finance.Empirical Corporate Finance will serve as a reference for professionals and MBA students who are concerned with the evidence on important issues such as initial public offerings, dividend policy, capital structure. The volumes will also serve, both as an introduction to the techniques of investigation in empirical corporate finance, and to the major substantive findings in the field for doctoral students; finally, they will be an invaluable source of reference to the most important work that has been done in each of the major areas of research.

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The Duffing Equation: Nonlinear Oscillators and their Behaviour brings together the results of a wealth of disseminated research literature on the Duffing equation, a key engineering model with a vast number of applications in science and engineering, summarizing the findings of this research. Each chapter is written by an expert contributor in the field of nonlinear dynamics and addresses a different form of the equation, relating it to various oscillatory problems and clearly linking the problem with the mathematics that describe it. The editors and the contributors explain the mathematical techniques required to study nonlinear dynamics, helping the reader with little mathematical background to understand the text. The Duffing Equation provides a reference text for postgraduate and students and researchers of mechanical engineering and vibration / nonlinear dynamics as well as a useful tool for practising mechanical engineers. Includes a chapter devoted to historical background on Georg Duffing and the equation that was named after him. Includes a chapter solely devoted to practical examples of systems whose dynamic behaviour is described by the Duffing equation. Contains a comprehensive treatment of the various forms of the Duffing equation. Uses experimental, analytical and numerical methods as well as concepts of nonlinear dynamics to treat the physical systems in a unified way.

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VIRTUAL EXPERIMENTS in MECHANICAL VIBRATIONS The first book of its kind to explain fundamental concepts in both vibrations and signal processing using MATLAB virtual experiments Students and young engineers with a strong grounding in engineering theory often lack the practical skills and knowledge required to carry out experimental work in the laboratory. Fundamental and time-consuming errors can be avoided with the appropriate training and a solid understanding of basic concepts in vibrations and/or signal processing, which are critical to testing new designs. Virtual Experiments in Mechanical Vibrations: Structural Dynamics and Signal Processing is designed for readers with limited knowledge of vibrations and signal processing. The intention is to help them relate vibration theory to measurements carried out in the laboratory. With a hands-on approach that emphasizes physics rather than mathematics, this practical resource explains fundamental concepts in vibrations and signal processing. It uses the concept of a virtual experiment together with MATLAB to show how the dynamic properties of vibration isolators can be determined, how vibration absorbers can be designed, and how they perform on distributed parameter structures. Readers will find that this text: Allows the concepts of experimental work to be discussed and simulated in the classroom using a physics-based approach Presents computational virtual experiments using MATLAB examples to determine the dynamic behaviour of several common dynamic systems Explains the rationale of virtual experimentation and describes typical vibration testing setups Introduces the signal processing tools needed to determine the frequency response of a system from input and output data Includes access to a companion website containing MATLAB code Virtual Experiments in Mechanical Vibrations: Structural Dynamics and Signal Processing is a must-have resource for researchers, mechanical engineers, and advanced undergraduate and graduate students who are new to the subjects of vibrations, signal processing, and vibration testing. It is also an invaluable tool for universities where the possibilities of doing experimental work are limited.

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