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Interactions between corporate finan...

Li, Yin.

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Interactions between corporate financing and investment decisions.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Interactions between corporate financing and investment decisions./
Author:	Li, Yin.
Description:	194 p.
Notes:	Source: Dissertation Abstracts International, Volume: 73-01, Section: A, page: .
Contained By:	Dissertation Abstracts International73-01A.
Subject:	Economics, Finance. -
Online resource:	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.
LDR:01885nam 2200301 4500 001 1405074
005 20111130130149.5
008 130515s2011 ||||||||||||||||| ||eng d
020 $a 9781124914992
035 $a (UMI)AAI3474681
035 $a AAI3474681
040 $a UMI $c UMI
100 1 $a Li, Yin. $3 1259288
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.
590 $a School code: 0382.
650 4 $a Economics, Finance. $3 626650
690 $a 0508
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