Capital Structure in the Modern World
暫譯: 現代世界的資本結構

Miglo, Anton

Capital Structure in the Modern World

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商品描述

This book focuses on microeconomic foundations of capital structure theory. It combines theoretical results with a large number of examples, exercises and applications. The book examines fundamental ideas in capital structure management, some of which are still not very well understood in the business community, such as Modigliani and Miller's irrelevance result, trade-off theory, pecking-order theory, asset substitution, credit rationing and debt overhang. Chapters also cover capital structure issues that have become very important following the recent financial crisis. Miglo discusses the ways in which financial economists were forced to look critically at capital structure, as the problems faced by many companies stemmed from their financing policies following the crisis. The book also discusses links between capital structure and firm's performance, corporate governance, firm's strategy and flexibility, and covers such topics as life cycle approach to capital structure management, capital structure of small and start-up companies, corporate financing versus project financing and examples of optimal capital structure analyses for different companies. This comprehensive guide to capital structure theory will be of interest to all students, academics and practitioners seeking to understand this fast-developing and critical area of business management.

商品描述(中文翻譯)

本書專注於資本結構理論的微觀經濟基礎。它結合了理論結果與大量的範例、練習和應用。書中探討了資本結構管理中的基本概念，其中一些在商業界仍然不太被理解，例如莫迪利安尼（Modigliani）和米勒（Miller）的無關性結果、權衡理論（trade-off theory）、優先順序理論（pecking-order theory）、資產替代（asset substitution）、信貸配給（credit rationing）和債務過剩（debt overhang）。各章節還涵蓋了在最近的金融危機後變得非常重要的資本結構問題。Miglo 討論了金融經濟學家如何被迫批判性地看待資本結構，因為許多公司面臨的問題源於危機後的融資政策。本書還探討了資本結構與公司績效、公司治理、公司策略和靈活性之間的聯繫，並涵蓋了資本結構管理的生命週期方法、小型和創業公司的資本結構、企業融資與專案融資的比較，以及不同公司的最佳資本結構分析範例。這本全面的資本結構理論指南將吸引所有希望了解這一快速發展且關鍵的商業管理領域的學生、學者和實務工作者。

作者簡介

Professor Anton Miglo is Associate Professor of Finance at the School of Business at Nipissing University, Canada. He obtained his Candidate of Science Degree from Saint-Petersburg State University in 1998 and PhD with excellence in economics (concentration in finance) from the University of Quebec in Montreal (Canada) in 2005. During his studies, Professor Miglo was awarded prestigious scholarships from the Canadian Council of Social Science Research and Montreal Institute of Financial Mathematics. Over the course of his career, Professor Miglo has taught numerous finance courses including Theory of Finance, Financial Management, Entrepreneurial Finance, Advanced Topics in Finance, Investments, Finance with Excel and Financing Strategies and Corporate Governance. He is the author of numerous academic publications. Professor Miglo areas of expertise include capital structure and financial contracts.

作者簡介(中文翻譯)

安東·米格洛（Professor Anton Miglo）是加拿大尼皮辛大學商學院的金融副教授。他於1998年在聖彼得堡國立大學獲得科學候選人學位，並於2005年在加拿大蒙特利爾的魁北克大學獲得經濟學博士學位（專攻金融），並以優異成績畢業。在學期間，米格洛教授曾獲得加拿大社會科學研究委員會和蒙特利爾金融數學研究所的多項獎學金。在他的職業生涯中，米格洛教授教授了多門金融課程，包括金融理論、財務管理、創業金融、高級金融主題、投資、Excel 財務及融資策略與公司治理。他是多篇學術出版物的作者。米格洛教授的專業領域包括資本結構和金融合約。

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