The Theory of Corporate Finance
Editorial Reviews
The Economist
"A magnificent new book -- It has a plausible claim to be the first truly comprehensive overview of corporate finance".
Review
Marco Pagano, Professor of Economics, University of Naples Federico II : Using a single elementary model Tirole brings out with refreshing ease an unsuspected unity and simplicity in a field that might otherwise be perceived as dishearteningly fragmented and complex. This masterful book will be a formidable teaching tool at the graduate level and an essential reference for research in corporate finance.
Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University : The field of corporate finance has developed rapidly and extensively in the last twenty years, but those who want to teach it face a barrier: the absence of a widely accepted textbook. Jean Tirole's book fills that gap. Applying his celebrated analytical and expositional skills, Tirole synthesizes and unifies the field in a clear and accessible manner, emphasizing particularly the connections between corporate finance and contract theory and the role of incentives and control in firms' financial decisions. The result is a book that will be an important resource for students and teachers alike.
Steve Kaplan, Neubauer Family Professor of Entrepreneurship and Finance, University of Chicago Graduate School of Business : With this book, Tirole has provided a comprehensive treatment of modern corporate finance theory in one place with one integrated framework. As a bonus, he also describes many of the important empirical results in corporate finance and how they relate to the theories. The book will be a valuable asset to students (and professors) of corporate finance.
Jeremy C. Stein, Harvard University : This is a remarkable book. Theoretical work in corporate finance over the past thirty or so years has yielded a bewildering array of individual models, yet Tirole manages to give a beautifully clear and unified treatment of the field. There is a real coherence both within and across the chapters, and one is in many places able to see the close connection between topics that are ordinarily treated as being distinct. The book will no doubt be the standard reference for researchers and students in corporate finance for many years to come.
Arnoud W. A. Boot, University of Amsterdam and Centre for Economic Policy Research : Jean Tirole, one of the preeminent economists of his generation, has put together the first integrated treatise of modern corporate finance theory. He succeeds in unifying the dispersed theories on financial and ownership structure, building on his excellence in information economics and contract theory. The book should be required reading for any Ph.D. course in corporate finance.
Antoine Faure-Grimaud, Professor of Finance, London School of Economics : The Theory of Corporate Finance is a towering achievement. Jean Tirole's vision is exhaustive, systematic and original. The major findings of the last two decades are recast in a unified framework, describing the multiple levels of contracting relationships created by firms' financial decisions. The book offers a significant number of new insights and it will have a profound impact on our understanding of corporate finance.
The Theory of Corporate Finance
The Theory of Corporate Finance,Jean Tirole,Princeton University Press,0691125562,Business & Economics,Business / Economics / Finance,Business enterprises,Business/Economics,Corporate Finance,Corporate governance,Corporations,Finance,Industries - General,Business & Economics / Corporate Finance,Economics
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