Capital structure, managerial incentives and corporate governance:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Frankfurt am Main [u.a.]
Lang
2002
|
| Series: | Entwicklung und Finanzierung
9 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | 203 S. graph. Darst. |
| ISBN: | 3631385749 |
Staff View
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| 100 | 1 | |a Pfeil, Christian M. |d 1971- |e Verfasser |0 (DE-588)122314743 |4 aut | |
| 245 | 1 | 0 | |a Capital structure, managerial incentives and corporate governance |c Christian M. Pfeil |
| 264 | 1 | |a Frankfurt am Main [u.a.] |b Lang |c 2002 | |
| 300 | |a 203 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Entwicklung und Finanzierung |v 9 | |
| 502 | |a Zugl.: Saarbrücken, Univ., Diss., 1999 | ||
| 650 | 4 | |a Mathematisches Modell | |
| 650 | 4 | |a Capital investments -- Mathematical models | |
| 650 | 4 | |a Corporations -- Finance -- Mathematical models | |
| 650 | 4 | |a Corporate governance -- Mathematical models | |
| 650 | 0 | 7 | |a Informationsökonomie |0 (DE-588)4161671-6 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Unternehmen |0 (DE-588)4061963-1 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Kapitalstruktur |0 (DE-588)4125993-2 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Corporate Governance |0 (DE-588)4419850-4 |2 gnd |9 rswk-swf |
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Record in the Search Index
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|---|---|
| adam_text |
9
TABLE
OF
CONTENTS
INTRODUCTION
13
1.1
THE
CAPITAL
STRUCTURE
PROBLEM
13
1.2
FEATURES
OF
DEBT
AND
EQUITY
17
1.2.1
PAYOUT
STRUCTURE
AND
VOTING
RIGHTS
18
1.2.2
BANKRUPTCY
AND
REPUTATION
21
1.3
THEORIES
OF
CAPITAL
STRUCTURE
23
1.3.1
AGENCY
24
1.3.2
ASYMMETRIC
INFORMATION
32
1.3.3
CORPORATE
CONTROL
35
1.3.4
INDUSTRIAL
ORGANIZATION
36
1.3.5
INCOMPLETE
CONTRACTS
41
1.4
CORPORATE
GOVERNANCE
MECHANISMS
45
1.4.1
INTERNAL
MECHANISMS
47
1.4.2
EXTERNAL
MECHANISMS
50
1.5
SCOPE
OF
THE
BOOK
56
CAPITAL
STRUCTURE
AS
AN
INCENTIVE
DEVICE
FOR
A
WEALTH
CONSTRAINED
MANAGEMENT
59
2.1
INTRODUCTION
59
2.2
THE
MODEL
63
2.2.1
GENERAL
FRAMEWORK
63
2.2.2
SOME
REMARKS
ON
THE
DRIVING
ASSUMPTIONS
OF
THE
ANALYSIS
68
2.3
ANALYSIS
OF
THE
MODEL
70
2.3.1
BANK
PARTICIPATION
AND
INTEREST
RATE
R(D)
70
2.3.2
INVESTOR
'
S
PAYOFF
AND
MAXIMIZATION
PROBLEM
72
2.3.3
THE
OPTIMAL
INCENTIVE
SCHEME
76
2.4
GRAPHICAL
ANALYSIS
82
2.5
A
NUMERICAL
EXAMPLE
86
10
2.6
CONCLUSION
90
2.7
APPENDIX
92
2.7.1
INTEREST
BEHAVIOR
IN
DEBT
92
2.7.2
LAGRANGIAN
AND
KUHN-TUCKER
CONDITIONS
FOR
INVESTOR
'
S
MAXIMIZATION
PROBLEM
94
2.7.3
UNIQUENESS
OF
THE
OPTIMAL
INCENTIVE
SCHEME
97
CAPITAL
STRUCTURE
AND
THE
CORPORATE
GOVERNANCE
ROLE
OF
BANKS
103
3.1
INTRODUCTION
103
3.2
THE
MODEL
105
3.3
ON
THE
BANK
'
S
ROLE
IN
THE
MODEL
110
3.4
THE
SEQUENCE
OF
DECISION
PROBLEMS
112
3.4.1
THE
MANAGEMENT
112
3.4.2
THE
BANK
113
3.4.3
THE
INVESTOR
116
3.5
ANALYSIS
OF
THE
MODEL
118
3.5.1
STEP
1:
MINIMIZATION
OF
EXPECTED
WAGE
PAYMENTS
118
3.5.2
STEP
2:
IMPLEMENTATION
OF
B
GIVEN
(U
0
(B),U
}
(6))
120
3.6
BANK
CORPORATE
CONTROL
VS.
MONETARY
INCENTIVES
126
3.7
CONCLUSION
128
3.8
APPENDIX
130
3.8.1
LAGRANGIAN
AND
FOCS
130
3.8.2
EXISTENCE
OF
AN
OPTIMAL
VECTOR
(WJ.IQ
)
130
3.8.3
MONOTONICITY
OF
(
MQ
.
W
*)
132
3.8.4
UNIQUENESS
OF
(
UQ
,
U
*)
GIVEN
B&B
132
3.8.5
INTEREST
RATE
BEHAVIOR
IN
D
132
3.8.6
EXISTENCE
OF
AN
OPTIMAL
DEBT
LEVEL
FOR
IMPLEMENTATION
OF
B
134
11
CAPITAL
STRUCTURE,
FINANCIAL
SIGNALING
AND
PRODUCT
MARKET
COMPETITION
135
4.1
INTRODUCTION
135
4.2
THE
MODEL
138
4.2.1
FRAMEWORK
AND
TIMING
138
4.2.2
FIRM
BEHAVIOR
IN
THE
CONTINUATION
GAME
143
4.2.3
INTEREST
RATE
AND
PAYOFF
TO
FIRM
STAKEHOLDERS
144
4.2.4
THE
MODEL
IN
THE
CLASS
OF
SIGNALING
GAMES
146
4.3
EQUILIBRIUM
ANALYSIS
149
4.3.1
FIRM
STRATEGIES
149
4.3.2
PERFECT
BAYESIAN
EQUILIBRIA
150
4.4
EQUILIBRIUM
REFINEMENT
162
4.4.1
ON
THE
MULTIPLICITY
OF
EQUILIBRIA
162
4.4.2
THE
REFINEMENT
CRITERION
164
4.4.3
REDUCING
THE
NUMBER
OF
SEPARATING
EQUILIBRIA
165
4.5
INTERACTION
BETWEEN
MARKETS
167
4.6
CONCLUSION
169
4.7
APPENDIX
170
4.7.1
COURNOT
INTERACTION
FOR
EXOGENOUS
BELIEFS
170
4.7.2
GENERAL
PROPERTIES
OF
THE
GAME
173
4.7.3
A
MODIFIED
VERSION
OF
THE
SPENCE-MIRRLEES
CONDITION
175
CONCLUDING
REMARKS
180
BIBLIOGRAPHY
187 |
| any_adam_object | 1 |
| author | Pfeil, Christian M. 1971- |
| author_GND | (DE-588)122314743 |
| author_facet | Pfeil, Christian M. 1971- |
| author_role | aut |
| author_sort | Pfeil, Christian M. 1971- |
| author_variant | c m p cm cmp |
| building | Verbundindex |
| bvnumber | BV014049467 |
| callnumber-first | H - Social Science |
| callnumber-label | HG4028 |
| callnumber-raw | HG4028.C4P43 2002 |
| callnumber-search | HG4028.C4P43 2002 |
| callnumber-sort | HG 44028 C4 P43 42002 |
| callnumber-subject | HG - Finance |
| classification_rvk | QP 750 |
| ctrlnum | (OCoLC)52514259 (DE-599)BVBBV014049467 |
| dewey-full | 338.6/041 338.6/04122 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 338 - Production |
| dewey-raw | 338.6/041 338.6/041 22 |
| dewey-search | 338.6/041 338.6/041 22 |
| dewey-sort | 3338.6 241 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| id | DE-604.BV014049467 |
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| indexdate | 2024-11-22T17:29:08Z |
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| isbn | 3631385749 |
| language | English |
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| physical | 203 S. graph. Darst. |
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| series | Entwicklung und Finanzierung |
| series2 | Entwicklung und Finanzierung |
| spelling | Pfeil, Christian M. 1971- Verfasser (DE-588)122314743 aut Capital structure, managerial incentives and corporate governance Christian M. Pfeil Frankfurt am Main [u.a.] Lang 2002 203 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Entwicklung und Finanzierung 9 Zugl.: Saarbrücken, Univ., Diss., 1999 Mathematisches Modell Capital investments -- Mathematical models Corporations -- Finance -- Mathematical models Corporate governance -- Mathematical models Informationsökonomie (DE-588)4161671-6 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Kapitalstruktur (DE-588)4125993-2 gnd rswk-swf Corporate Governance (DE-588)4419850-4 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Kapitalstruktur (DE-588)4125993-2 s Corporate Governance (DE-588)4419850-4 s DE-604 Unternehmen (DE-588)4061963-1 s Informationsökonomie (DE-588)4161671-6 s Entwicklung und Finanzierung 9 (DE-604)BV012093953 9 DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009621632&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Pfeil, Christian M. 1971- Capital structure, managerial incentives and corporate governance Entwicklung und Finanzierung Mathematisches Modell Capital investments -- Mathematical models Corporations -- Finance -- Mathematical models Corporate governance -- Mathematical models Informationsökonomie (DE-588)4161671-6 gnd Unternehmen (DE-588)4061963-1 gnd Kapitalstruktur (DE-588)4125993-2 gnd Corporate Governance (DE-588)4419850-4 gnd |
| subject_GND | (DE-588)4161671-6 (DE-588)4061963-1 (DE-588)4125993-2 (DE-588)4419850-4 (DE-588)4113937-9 |
| title | Capital structure, managerial incentives and corporate governance |
| title_auth | Capital structure, managerial incentives and corporate governance |
| title_exact_search | Capital structure, managerial incentives and corporate governance |
| title_full | Capital structure, managerial incentives and corporate governance Christian M. Pfeil |
| title_fullStr | Capital structure, managerial incentives and corporate governance Christian M. Pfeil |
| title_full_unstemmed | Capital structure, managerial incentives and corporate governance Christian M. Pfeil |
| title_short | Capital structure, managerial incentives and corporate governance |
| title_sort | capital structure managerial incentives and corporate governance |
| topic | Mathematisches Modell Capital investments -- Mathematical models Corporations -- Finance -- Mathematical models Corporate governance -- Mathematical models Informationsökonomie (DE-588)4161671-6 gnd Unternehmen (DE-588)4061963-1 gnd Kapitalstruktur (DE-588)4125993-2 gnd Corporate Governance (DE-588)4419850-4 gnd |
| topic_facet | Mathematisches Modell Capital investments -- Mathematical models Corporations -- Finance -- Mathematical models Corporate governance -- Mathematical models Informationsökonomie Unternehmen Kapitalstruktur Corporate Governance Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009621632&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV012093953 |
| work_keys_str_mv | AT pfeilchristianm capitalstructuremanagerialincentivesandcorporategovernance |