New Research in Corporate Finance and Banking

Edited by Bruno Biais and Marco Pagano

in OUP Catalogue from Oxford University Press

Abstract: In 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 these issues at a 'systemic' level, attempting to identify the comparative advantages of banks and security markets in solving the information problems involved in financing companies. The third section explores the variety in the design of credit contracts and institutions, asking questions like: Why do some companies borrow from a single bank and others from several banks? Why do some banks share information about their customers? The final section illustrates that the same informational frictions that explain the design of credit contracts and institutions can also affect real economic activity. Contributors to this volume - Bruno Biais, Universite des Sciences Sociales Marco Pagano, University of Salerno Antonio S. Mello, University of Wisconsin John E. Parsons, CEPR Fabio Panetta, Banca d'Italia Luigi Zingales, University of Chicago M. J. Brennan, University of California J. Franks, London Business School Arnoud W. A. Boot, University of Amsterdam Anjan V. Thakor, University of Michigan A. Jorge Padilla, CEPR Tullio Jappelli, CEPR Jeremy Bulow, Federal Trade Commission Ming Huang, Stanford University Paul Klemperer, Oxford University Michel A. Habib, London Business School Alexander P. Ljungqvist, New York University Javier Suarez, CEMFI, Madrid Oren Sussman, Ben Gurion University of the Negev, Israel Patrick Bolton, Princeton University David S. Scharfstein, Massachusetts Institute of Technology

Date: 2002
ISBN: 9780199243242
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oxp:obooks:9780199243242

Ordering information: This item can be ordered from
http://ukcatalogue.o ... uct/9780199243242.do

Access Statistics for this book

More books in OUP Catalogue from Oxford University Press
Bibliographic data for series maintained by Economics Book Marketing ().