Table of Contents
Preface of the Fourth Edition.
Preface of the First Edition.
Part I: Financial Markets:.
1. The History of Finance: An Eyewitness Account: Merton Miller(University of Chicago).
2. The Theory of Stock Market Efficiency: Accomplishments andLimitations: Ray Ball (University of Rochester).
3. Market Myths: G. Bennett Stewart, III (Stern Stewart &Co.).
4. An Analysis of Trading Profits: How Trading Rooms Really MakeMoney: Alberic Braas and Charles Braver (Oliver, Wyman &Company).
Part II: The Corporate Investment Decision:.
5. Finance Theory and Financial Strategy: Stewart Myers(Massachusetts Institute of Technology).
6. In Defense of Beta: S.P. Kothari and Jay Shanken (Universityof Rochester).
7. The Liquidity Route to a Lower Cost of Capital: Yakov Amihud(New York University) and Haim Mendelsohn (StanfordUniversity).
8. The Promise of Real Options: Aswath Damodoran (New YorkUniversity).
9. Real Options: State of the Practice: Alexander Triantis(University of Maryland) and Adam Borison (Applied DecisionAnalysis/ PricewaterhouseCoopers).
Part III: The Financing Decision I: CapitalStructure:.
10. The Modigliani-Miller Propositions After Thirty Years:Merton Miller (University of Chicago).
11. Still Searching for Optimal Capital Structure: Stewart Myers(Massachusetts Institute of Technology).
12. The Capital Structure Puzzle: Another Look at the Evidence:Michael Barclay and Clifford Smith (University of Rochester).
13. What Do We Know About Stock Repurchases?: Gustavo Grullonand David Ikenberry (Rice University).
14. Stern Stewart Roundtable on Capital Structure and StockRepurchase: Panelists: Clifford Smith (University of Rochester);Erik Sirri (Babson College); Tim Opler (Credit Suisse FirstBoston); David Ikenberry (Rice University); Richard Thevenet(Pepsico); and Dennis Soter (Stern Stewart & Co.) Moderated byDonald Chew (Stern Stewart & Co.).
Part IV: The Financing Decision II: The FinanceVehicles:.
15. Raising Capital: Theory And Evidence: Clifford Smith(University of Rochester).
16. Financing Corporate Growth: Bradford Cornell (University ofCalifornia, Los Angeles) and Alan Shapiro (University of SouthernCalifornia).
17. Are Banks Still Special? New Evidence on Their Role in theCapital-Raising Process: Christopher James and David Smith(University of Florida).
18. Convertible Bonds: Matching Financial and Real Options:David Mayers (University of California at Riverside).
19. The Uses of Hybrid Debt in Managing Corporate Risk: CharlesSmithson (Chase Manhattan Bank) and Donald H. Chew (Stern Stewart& Co.).
20. Using Project Finance to Fund Infrastructure Investments:Richard Brealey, Ian Cooper, and Michel Habib (London BusinessSchool).
Part V: Risk Management:.
21. Financial Innovation: Achievements and Prospects: MertonMiller (University of Chicago).
22. Managing Financial Risk: Clifford W. Smith, Jr. (Universityof Rochester), Charles W. Smithson (Continental Bank) and D. SykesWilford (Chase Manhattan Bank).
23. Rethinking Risk Management: Rene Stulz (Ohio StateUniversity).
24. Theory of Risk Capital in Financial Firms: Robert Merton andAndré Perold: (Harvard Business School).
25. Corporate Insurance Strategy: The Case of British Petroleum:Neil Doherty (University of Pennsylvania) and Clifford Smith(University of Rochester).
26. Value at Risk: Uses and Abuses: Christopher Culp (CP RiskManagement LLC), Merton Miller (University of Chicago) and AndreaM. P. Neves (CP Risk Management LLC).
Part VI: International Finance:.
27. Financial Markets and Economic Growth: Merton Miller(University of Chicago).
28. Globalization, Corporate Finance, and the Cost of Capital:René Stulz (Ohio State University).
29. Globalization of Capital Markets and the Asian FinancialCrisis: E. Han Kim (University of Michigan).
30. Incorporating Country Risk in the Valuation of OffshoreProjects: Donald Lessard (Massachusetts Institute ofTechnology).
31. Yankee Bonds and Cross-Border Private Placements: An Update:Greg Johnson (Banc of America Securities LLC).
32. Financial Risk Management for Developing Countries: A PolicyOverview: Donald Lessard (Massachusetts Institute ofTechnology).
Part VII: International Corporate Governance:.
33. Is American Corporate Governance Fatally Flawed?: MertonMiller (University of Chicago).
34. The Role of Corporate Governance in South Korean EconomicReform: Kenneth Scott (Stanford University).
35. Corporate Ownership and Control in the U.K., Germany, andFrance: Julian Franks (London Business School) and Colin Mayer(Oxford University).
36. Universal Banks Are Not the Answer to America’sCorporate Governance “Problem”: A Look at Germany,Japan, and the U.S.: Jonathan R. Macey (Cornell Law School) andGeoffrey Miller (New York University Law School).
37. Which Capitalism? Lessons From the East Asian Crisis:Raghuram Rajan and Luigi Zingales (University of Chicago).
38. Measuring the Effectiveness of Different CorporateGovernance Systems: Toward a More Scientific Approach: JonathanMacey (Cornell Law School).
39. Merton Miller’s Contribution To Modern Finance:René Stulz (Ohio State University).