New Research in Corporate
Finance and Banking
Bruno Biais, Université des
Sciences Sociales, Toulouse
Marco Pagano, University of
Salerno
Description
This volume represents the
best European work on corporate finance and banking. It covers the process by which
companies 'go public', financial system architecture, design of credit contracts and
institutions, and credit market imperfections and economic activity. The papers are both
theoretical and empirical.
Readership: Economists and advanced students of economics with an interest in finance,
corporate finance, and monetary economics.
Contents/contributors
Bruno Biais and Marco Pagano:
Introduction
I. Going Public1 Marco
Pagano, Fabio Panetta, and Luigi Zingales: Why Do Companies Go Public?: An Empirical
Analysis
2 M. J. Brennan and J.
Franks: Underpricing, Ownership, and Control in Initial Public Offerings of Equity
Securities in the UK
3 Antonio S. Mello and John
E. Parsons: Going Public and the Ownership Structure of the Firm
4 Jeremy Bulow, Ming, Huang,
and Paul Klemperer: Toeholds and Takeovers
5 Michel A. Habib and
Alexander P. Ljungqvist: Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory
and Evidence
II. Financial System
Architecture6 Arnoud W. A. Boot and Anjan V. Thakor: Financial System Architecture
7 Arnoud W. A. Boot and Anjan
V. Thakor: Banking Scope and Financial Innovation
III. Design of Credit
Contracts and Institutions8 Patrick Bolton and David S. Scharfstein: Optimal Debt
Structure and the Number of Creditors
9 Marco Pagano and Tullio
Jappelli: Information Sharing in Credit Markets
10 A. Jorge Padilla and Marco
Pagano: Endogenous Communication among Lenders and Entrepreneurial Incentives
IV. Credit Market
Imperfections and Economic Activity11 Luigi Zingales: Survival of the Fittest or the
Fattest?: Exit and Financing in the Trucking Industry
12 Javier Suarez and Oren
Sussman: Endogenous Cycles in a Stiglitz--Weiss Economy
375 pages