Corporate finance theory. Book 2

Over the past twenty years, the region of corporate finance has undergone huge changes in both the theory and empirical research. If earlier, it was primarily dealing with issues of financing corporations - based on shares, debt papers and certain methods of value assessment, today, in addition, it solves extremely important problems of corporate management, liquidity, risk management, relations between banks and corporations, as well as issues of macroeconomic exposure to corporations. But such a powerful wave of changes in the last decades left behind the disordered mass of concepts and models that are difficult to understand to students. In the book “Theory of Corporate Finance”, one of the leading economists of the world, Jean Tyrol, offers a clear, systematic and comprehensive introduction into the modern theory of corporate finance. Tyrol builds its significant work around one model using ideas of the theory of contracts. His book replenishes an important gap in the presentation of the modern theory of corporate financials and is an indispensable source of information for graduates and students of universities, as well as researchers in the field of corporate finance, organizing industry markets, political economy, development concepts and macroeconomics. Given the simplicity of the mathematical apparatus used and the basic model, the work will be interesting to the widest circle of readers interested in financial issues. Tyrol explains the principles on which the analysis of the most important problems of corporate governance and state policy is built, such as the reform of corporate governance and audit, the role of private (non -public) companies, financial markets and absorptions, an effective determination of financial levers and dividend policy, risk and liquidity management, development Management systems. He weaves the results of empirical studies into theoretical analysis. And considers the corporation in a wide macroeconomic and microeconomic context. Being a noticeable milestone in the field of corporate finance, the book “Theory of Corporate Finance” for many years will remain authoritative labor in this field of knowledge