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Interactions between corporate finan...

Li, Yin.

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Interactions between corporate financing and investment decisions.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Interactions between corporate financing and investment decisions./
作者:	Li, Yin.
面頁冊數:	194 p.
附註:	Source: Dissertation Abstracts International, Volume: 73-01, Section: A, page: .
Contained By:	Dissertation Abstracts International73-01A.
標題:	Economics, Finance. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3474681
ISBN:	9781124914992

Interactions between corporate financing and investment decisions.
Li, Yin.

Interactions between corporate financing and investment decisions. - 194 p.

Source: Dissertation Abstracts International, Volume: 73-01, Section: A, page: .

Thesis (Ph.D.)--The University of Texas at Dallas, 2011.

This dissertation contains two chapters. The first chapter studies firms' optimal financing strategy when they face uncertain and short-lived investment opportunities such as innovations. The results can reconcile a number of puzzling empirical findings in the literature: large leverage jumps without investment needs, greater stock underperformance after equity offerings than after debt offerings, debt conservatism, and observational equity market timing. The second chapter studies agency costs associated with a self-interested and risk-averse manager's investment timing decision, and the effects of compensation policy and capital structure on managerial discretion. We find that performance pay and golden parachutes both have non-monotonic effects on the agency conflict, and financial contracting can be very effective in mitigating managerial discretion.

ISBN: 9781124914992Subjects--Topical Terms:

626650
Economics, Finance.

Interactions between corporate financing and investment decisions.
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245 1 0 $a Interactions between corporate financing and investment decisions.
300 $a 194 p.
500 $a Source: Dissertation Abstracts International, Volume: 73-01, Section: A, page: .
500 $a Adviser: David C. Mauer.
502 $a Thesis (Ph.D.)--The University of Texas at Dallas, 2011.
520 $a This dissertation contains two chapters. The first chapter studies firms' optimal financing strategy when they face uncertain and short-lived investment opportunities such as innovations. The results can reconcile a number of puzzling empirical findings in the literature: large leverage jumps without investment needs, greater stock underperformance after equity offerings than after debt offerings, debt conservatism, and observational equity market timing. The second chapter studies agency costs associated with a self-interested and risk-averse manager's investment timing decision, and the effects of compensation policy and capital structure on managerial discretion. We find that performance pay and golden parachutes both have non-monotonic effects on the agency conflict, and financial contracting can be very effective in mitigating managerial discretion.
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650 4 $a Economics, Finance. $3 626650
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710 2 $a The University of Texas at Dallas. $b Finance. $3 1684427
773 0 $t Dissertation Abstracts International $g 73-01A.
790 1 0 $a Mauer, David C., $e advisor
790 1 0 $a Baranchuk, Nina $e committee member
790 1 0 $a Kieschnick, Robert L. $e committee member
790 1 0 $a Zhang, Harold H. $e committee member
790 $a 0382
791 $a Ph.D.
792 $a 2011
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3474681