{"product_id":"capital-structure-managerial-incentives-and-corporate-governance-von-christian-pfeil","title":"Capital Structure, Managerial Incentives and Corporate Governance","description":"What factors determine a firm’s financing decision? Informational economics and contract theory have contributed a great deal to answer this question. This book contains three essays that further contribute to this strand of literature with the focus on theories that view capital structure as a disciplining instrument for a self-interested management. Some of the existing theories abstract from other disciplining devices such as ordinary incentive wages to justify debt as a mean to mitigate a moral hazard problem between managers and owners of a firm. Two of the models presented here turn to the question of whether debt can play a role as an incentive device when other incentive mechanisms are available as well. A third model revisits the signaling literature on capital structure in the light of new empirical evidence. All models are embedded into a corporate governance framework that allows to set the conclusions into a broader perspective.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783631385746\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783631385746","offer_id":55033496600901,"sku":"9783631385746","price":73.25,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/b76d9766-07a0-49c3-9839-5dbd6f36d1af.jpg?v=1780806753","url":"https:\/\/shop.autorenwelt.de\/products\/capital-structure-managerial-incentives-and-corporate-governance-von-christian-pfeil","provider":"Autorenwelt Shop","version":"1.0","type":"link"}