Topics in Corporate Finance

Perspectives on the Theory and Practice of Corporate Finance


Volume: 8 Topics in Corporate Finance

Author(s): V. Maksimovic, D. Brounen, A. de Jong and K. Koedijk

Year: 2004

ISBN: 90-805728-8-8

Price: € 20.00

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One of the important challenges for financial economists is to understand the financial practices of corporations. How do corporations choose their financial structure? Why do they finance themselves the way they do? Simultaneously, the practitioners look for prescriptions. How should they choose their financial policy? Observing the many textbooks on corporate finance one would expect that prescriptions can easily be found. The reality is however that despite the enormous output of academic research in corporate finance, very little is produced that gives specific guidance to financial executives.

Against this backdrop the Amsterdam Center for Corporate Finance (ACCF) has decided to devote this issue of its discussion series ”Topics in Corporate Finance” to trying to bridge the gap between theory and practice. In the first contribution, Professor Vojislav Maksimovic explicitly addresses how firms should choose their financial structure. His insights are that competitive considerations should be the key driving force, and also that financial structure decisions should be an integral part of a firm’s overall risk management. His analysis shows how complex the issues are, partially explaining the lack of specific guidance that comes from corporate finance theory.

The second contribution reports on a survey among European CFO’s.  Professors Brounen, De Jong and Koedijk have succeeded in bringing together the opinions of a large sample of financial decision makers from the UK, the Netherlands, Germany and France on key corporate finance issues. They conclude that there is a wide variation in corporate finance practices, and that the variation appears to be influenced mostly by firm size and to a lesser extent by the degree of shareholder orientation. Nationality per se does not have a significant explanatory power.


Publications Topics in Corporate Finance

VolumeYearAuthorTitlePrice
252017Jeroen E. Ligterink en Jens K. MartinPrivate equity: waardecreatie, herverdeling en excessen€ 20.00
242015Tanju YorulmazerUnderstanding the Crisis: Bank Funding Structures as Source of Instability€ 20.00
232014Anat R. AdmatiTowards a Better Understanding of the Capitalization of Banks€ 20.00
222013Arnoud W.A. BootTransactiemaatschappij en financiële markten: op zoek naar een nieuwe balans€ 20.00
212012Lans BovenbergMacro-oplossingen gezocht: naar integrale oplossingen voor de onevenwichtigheden in wonen, pensioen, ouderenzorg en het bancaire landschap€ 20.00
202011Paul De Grauwe and Arnoud W.A. BootTowards a Fundamental Resolution of the Eurocrisis€ 20.00
192010David T. LlewellynThe Global Banking Crisis and the Post-Crisis Banking and Regulatory Scenario€ 20.00
182010Ludovic PhalippouRegulating Private Equity€ 20.00
172009Frank Partnoy, Arnoud W.A. Boot and Anjan V. ThakorTowards a Fundamental Understanding of Financial Sector Developments€ 20.00
162008Arnoud W. A. BootCorporate finance theorie en financiële crisis in breder perspectief € 20.00
152007Arnoud W.A. Boot, meerdere auteursPrivate equity en aandeelhoudersactivisme€ 20.00
142007X. Vives and V. Strauss-KahnHeadquarters and innovation: does location matter? € 20.00
132006L. Bouchez, M. Knubben, J.A. McCahery and L. Timmerman (eds)The Quality of Corporate Law and the Role of Corporate Law € 20.00
122005J. McCahery and E. VermeulenUnderstanding (Un)incorporated Business Forms € 20.00
112005D. Cumming, G. Fleming and A. SchwienbacherRecent research on the investment behavior of private equity fund managers€ 20.00
102005M.J.G.C. Raaijmakers, G. van Solinge en P. Frentrop Corporate governance: een agenda voor de toekomst€ 20.00
92004Amar BhidéEntrepreneurship and Venture Capital€ 20.00
82004V. Maksimovic, D. Brounen, A. de Jong and K. KoedijkPerspectives on the Theory and Practice of Corporate Finance € 20.00
72003J.J.A. LeenaarsSecuritisatie: Economics en Europees Perspectief€ 20.00
62003U. BhattacharyaGlobal Corporate Governance and Accounting Transparency € 20.00
52002A. Saunders and A. SchmeitsThe Role of Bank Funding for the Corporate Sector: the Netherlands in an International Perspective € 20.00
42001Todd T. MilbournManagement Compensation in the Netherlands: Theory, Evidence, and Best Practice € 12.50
32000A.W.A. Boot and J.E. LigterinkDe Efficiëntie van de Nederlandse Faillissements€ 15.00
22000E.I. Altman and A. Saunders, and A.W.A. Boot, T. Milbourn, and S. DezelanPerspectives on the Regulation of the Financial Services Industry € 12.50
11999I. Walter and A.W.A. BootThe Future of Banking: Two Essays on the Consolidation in the Financial Sector€ 15.00