Contributions to Finance and Accounting

Dynamical Corporate Finance

An Equilibrium Approach

Authors: Sagliaschi, Umberto, Savona, Roberto

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  • Offers a concise analysis of the theoretical foundations and modelling of corporate finance
  • Provides an introduction to investment based asset pricing
  • Presents recent advancements in dynamic capital structure literature, including the leverage ratchet effect
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  • ISBN 978-3-030-77853-8
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Hardcover $119.99
price for USA in USD
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About this book

The way in which leverage and its expected dynamics impact on firm valuation is very different from what is assumed by the traditional static capital structure framework. Recent work that allows the firm to restructure its debt over time proves to be able to explain much of the observed cross-sectional and time-series variation in leverage, while static capital structure predictions do not. The purpose of this book is to re-characterize the firm’s valuation process within a dynamical capital structure environment, by drawing on a vast body of recent and more traditional theoretical insights and empirical findings on firm evaluation, also including asset pricing literature, offering a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm’s debt and equity accordingly.

About the authors

Umberto Sagliaschi is Head of Equity Investments (Open-End Funds), at Quaestio Capital SGR SpA, where he is responsible for bottom-up equity strategies. He started his career as analyst for Eni SpA, and then joined Quaestio Capital in 2014 as equity analyst.


Roberto Savona is Associate Professor of Banking and Finance at the Department of Economics and Management, University of Brescia, Italy. His research has appeared in finance and economics journals, such as European Journal of Finance, European Journal of Operational Research, Journal of Financial Econometrics, Oxford Bulletin of Economics and Statistics, PLoS ONE, Quantitative Finance. He currently serves as an Academic Editor of PLoS ONE. 


Table of contents (7 chapters)

Table of contents (7 chapters)

Buy this book

eBook $89.00
price for USA in USD
  • ISBN 978-3-030-77853-8
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA in USD
  • ISBN 978-3-030-77852-1
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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Bibliographic Information

Bibliographic Information
Book Title
Dynamical Corporate Finance
Book Subtitle
An Equilibrium Approach
Authors
Series Title
Contributions to Finance and Accounting
Copyright
2021
Publisher
Springer International Publishing
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-77853-8
DOI
10.1007/978-3-030-77853-8
Hardcover ISBN
978-3-030-77852-1
Series ISSN
2730-6038
Edition Number
1
Number of Pages
VIII, 201
Number of Illustrations
1 b/w illustrations
Topics