Corporate capital structures in the United States / edited by Benjamin M. Friedman.

Format:

Book

Contributor:

Friedman, Benjamin M.

National Bureau of Economic Research.

Series:

National Bureau of Economic Research project report.

A National Bureau of Economic Research project report

Language:

English

Subjects (All):

Corporations--United States--Finance.

Corporations.

Physical Description:

1 online resource (403 pages) : illustrations

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 1985.

Language Note:

English

Summary:

The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.

Contents:

Secular patterns in the financing of U.S. corporations / Robert A. Taggart, Jr.

Changes in the balance sheet of the U.S. manufacturing sector, 1926-1977 / John H. Ciccolo, Jr. and Christopher F. Baum

Debt and equity yields, 1926-1980 / Patric H. Hendershott and Roger D. Huang

Inflation and the role of bonds in investor portfolios / Zvi Bodie, Alex Kane, and Robert McDonald

The substitutability of debt and equity securities / Benjamin M. Friedman

Contingent claims valuation of corporate liabilities / E. Philip Jones, Scott P. Mason, and Eric Rosenfeld

Capital structure change and decreases in stockholders' wealth / Wayne H. Mikkelson

Real determinants of corporate leverage / Alan J. Auerbach

Investment patterns and financial leverage / Michael S. Long and Ileen B. Malitz

Capital structure and the corporation's product market environment / A. Michael Spence.

Notes:

Papers presented at a conference held at Palm Beach, Fla., Jan. 6-7, 1983, sponsored by the National Bureau of Economic Research.

Includes bibliographies and indexes.

ISBN:

9786612189234

9781282189232

1282189239

9780226264233

0226264238

OCLC:

646811553