教材 |
Assigned Papers Warm up 1. Modigliani and Miller (1958),“The Cost of Capital, Corporation Finance and the Theory of Investment,”The American Economic Review, Vol. 48(3) pp. 261-297. 2. Modigliani and Miller (1963),“Corporate Income Taxes and the Cost of Capital: A Correction,”The American Economic Review, Vol. 53(3) pp. 433-443. 3. Sharpe, 1964, “Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk,” The Journal of Finance 19, 425-442. 4. Arrow, 1964, The Role of Securities in the Optional Allocation of Risk-bearing, The Review of Economic Studies. Vol 31: 91-96. 5. Daniel and Titman (2006), “Market Reactions to Tangible and Intangible Information,” The Journal of Finance, Forthcoming. 6. Lin, 2006, “ An Examination of Long-Term Performances and Information Content of Prices Following R&D Increases,” Department of Finance, NTU, Proposal. Issue 1: Capital Structure Theory 7. Jensen and Meckling (1976),“Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure,” Journal of Financial Economics, Vol. 3, pp. 305-360. 8. Miller (1977),“Debt and Taxes,”The Journal of Finance, Vol. 32(2), pp. 261-275. 9. Myers (1984),“The Capital Structure Puzzle,” The Journal of Finance, Vol. 39, pp. 575-591. 10. Shyam-Sunder and Myers (1999),“Testing static tradeoff against pecking order models of capital structure,” Journal of Financial Economics, Vol. 51, pp. 219-244. 11. Baker and Wurgler (2002), “Market Timing and Capital Structure”, Journal of Finance 57, 1-32. Issue 2: Adverse Selection and Signaling Theory 12. Myers and Majluf (1984),“Corporate Financing and Investment Decisions when Firms have Information that Investors do not have,” Journal of Financial Economics, Vol. 13, pp.187-221. 13. Ross (1977),“The Determination of Financial Structure: The Incentive-Signaling Approach,” The Bell Journal of Economics, Vol. 8(1977), pp.23-40. 14. Modigliani and Miller (1961),“Dividend Policy, Growth, and the Valuation of Shares,” The Journal of Business, Vol. 34(4), pp 411-433. 15. Miller and Rock (1985),“Dividend Policy and Asymmetric Information,” Journal of Finance, Vol. 40(4), pp.1031-1051. 16. Szewczyk, 1992, “The Intra-Industry Transfer of Information Inferred from Announcement of Corporate Security Offerings,” Journal of Finance 47, 1935-1945. 17. Loughran and Ritter(1995),“The New Issues Puzzle,” Journal of Finance 50, pp.23-51. Issue 3: Research and Development (R&D) 18. Chan, Martin and Kensinger (1990), “Corporate Research and Development Expenditures and Share Value”, Journal of Financial Economics 26, 255-276. 19. Aboody and Lev (2000), “Information Asymmetry, R&D, and Insider Gains”, Journal of Finance 55, 2747-2766. 20. Ebrhart, Maxwell and Siddique, 2004, “An Examination of Long-Term Abnormal Stock Returns Operating Performance Following R&D Increases,” Journal of Finance 59, 623-650. |
Teaching Materials |
Assigned Papers Warm up 1. Modigliani and Miller (1958),“The Cost of Capital, Corporation Finance and the Theory of Investment,”The American Economic Review, Vol. 48(3) pp. 261-297. 2. Modigliani and Miller (1963),“Corporate Income Taxes and the Cost of Capital: A Correction,”The American Economic Review, Vol. 53(3) pp. 433-443. 3. Sharpe, 1964, “Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk,” The Journal of Finance 19, 425-442. 4. Arrow, 1964, The Role of Securities in the Optional Allocation of Risk-bearing, The Review of Economic Studies. Vol 31: 91-96. 5. Daniel and Titman (2006), “Market Reactions to Tangible and Intangible Information,” The Journal of Finance, Forthcoming. 6. Lin, 2006, “ An Examination of Long-Term Performances and Information Content of Prices Following R&D Increases,” Department of Finance, NTU, Proposal. Issue 1: Capital Structure Theory 7. Jensen and Meckling (1976),“Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure,” Journal of Financial Economics, Vol. 3, pp. 305-360. 8. Miller (1977),“Debt and Taxes,”The Journal of Finance, Vol. 32(2), pp. 261-275. 9. Myers (1984),“The Capital Structure Puzzle,” The Journal of Finance, Vol. 39, pp. 575-591. 10. Shyam-Sunder and Myers (1999),“Testing static tradeoff against pecking order models of capital structure,” Journal of Financial Economics, Vol. 51, pp. 219-244. 11. Baker and Wurgler (2002), “Market Timing and Capital Structure”, Journal of Finance 57, 1-32. Issue 2: Adverse Selection and Signaling Theory 12. Myers and Majluf (1984),“Corporate Financing and Investment Decisions when Firms have Information that Investors do not have,” Journal of Financial Economics, Vol. 13, pp.187-221. 13. Ross (1977),“The Determination of Financial Structure: The Incentive-Signaling Approach,” The Bell Journal of Economics, Vol. 8(1977), pp.23-40. 14. Modigliani and Miller (1961),“Dividend Policy, Growth, and the Valuation of Shares,” The Journal of Business, Vol. 34(4), pp 411-433. 15. Miller and Rock (1985),“Dividend Policy and Asymmetric Information,” Journal of Finance, Vol. 40(4), pp.1031-1051. 16. Szewczyk, 1992, “The Intra-Industry Transfer of Information Inferred from Announcement of Corporate Security Offerings,” Journal of Finance 47, 1935-1945. 17. Loughran and Ritter(1995),“The New Issues Puzzle,” Journal of Finance 50, pp.23-51. Issue 3: Research and Development (R&D) 18. Chan, Martin and Kensinger (1990), “Corporate Research and Development Expenditures and Share Value”, Journal of Financial Economics 26, 255-276. 19. Aboody and Lev (2000), “Information Asymmetry, R&D, and Insider Gains”, Journal of Finance 55, 2747-2766. 20. Ebrhart, Maxwell and Siddique, 2004, “An Examination of Long-Term Abnormal Stock Returns Operating Performance Following R&D Increases,” Journal of Finance 59, 623-650. |