There is extensive research addressing questions of optimal capital structure. Studies typically focus on estimating the appropriate level …
Leverage
Should Shareholders Have a Say on Acquisitions?
Shareholders of U.S. corporations have lost billions of dollars in acquisitions they never approved. In the United Kingdom, …
Risk Capital: Theory and Applications
After a brief review of the current theory and practice of risk capital by financial firms, the authors …
Strategic Financial Management: Lessons from Seasoned Equity Offerings
Each of today’s three dominant academic theories of capital structure has trouble explaining the financing behavior of companies …
Columbia Business School Roundtable on Broken Models of Public Finance
Joe Biden’s chief economic adviser joins a proactive investor who was one of the largest private investors in …
The Euro @ 20: How Economic and Financial “Asymmetries” Marred...
The launch of the single currency in 1999 rekindled the European Union’s momentum toward deeper integration. And yet …
The Economic (Not Literary) Offenses of Michael Lewis: The Case...
In a shameless abuse of editorial prerogative, the editor of this journal uses Lewis’s bestseller as a pretext …
Apocalypse Averted: The COVID-Caused Liquidity Trap, Dodd-Frank, and the Fed
In an article published in this journal in 2012, the author challenged the conventional wisdom that a major …
Columbia Business School Roundtable on The Fed’s Response to the...
A former Federal Reserve Governor (from 2006-2008) and a former Treasury official discuss the Fed’s and U.S. government’s …
The Benefits of Buying Distressed Assets
Studies of mergers and acquisitions have struggled to identify characteristics of M&A transactions that are consistently associated with …