{"product_id":"corporate-finance-and-the-theory-of-the-firm-von-stefan-detscher","title":"Corporate finance and the theory of the firm","description":"\u003cp\u003eResearch Paper (undergraduate) from the year 2003 in the subject Business economics - Investment and Finance, grade: 2,0 (B), European Business School - International University Schloß Reichartshausen Oestrich-Winkel (Corporate Finance and Capital Markets), language: English, abstract: This book examines the links between corporate finance and the theory of\u003c\/p\u003e\u003cp\u003ethe firm. As a basis for this analysis, theoretical foundations in corporate finance and\u003c\/p\u003e\u003cp\u003ethe theory of the firm are provided. Furthermore, current research on the theory of the\u003c\/p\u003e\u003cp\u003efirm and corporate finance for the recently emerged type of firm of the human-capital\u003c\/p\u003e\u003cp\u003eintensive firm is presented.\u003c\/p\u003e\u003cp\u003eThe most significant part of the analysis is the evaluation of the interrelation between\u003c\/p\u003e\u003cp\u003ecorporate finance and the theory of the firm using a 3x3 matrix. This matrix compares\u003c\/p\u003e\u003cp\u003ethree important theoretical frameworks of the firm (the firm as a nexus of contracts, as a\u003c\/p\u003e\u003cp\u003ecollection of growth options and as a collection of assets) with three major fields of\u003c\/p\u003e\u003cp\u003ecorporate finance (capital structure, corporate governance and valuation). This\u003c\/p\u003e\u003cp\u003eassessment is done for the traditional asset-intensive industrial firm, one of two basic\u003c\/p\u003e\u003cp\u003etypes of firms in today¿s economy. For giving an additional insight into current\u003c\/p\u003e\u003cp\u003eresearch, the recently emerged human-capital intensive firm is shortly described in\u003c\/p\u003e\u003cp\u003ecomparison to the traditional asset-intensive firm, and implications for corporate finance\u003c\/p\u003e\u003cp\u003efor this new type of firm are explained.\u003c\/p\u003e\u003cp\u003eAs a conclusion, three major results can be stated: firstly, the theory of the firm definitely\u003c\/p\u003e\u003cp\u003einfluences corporate finance for all described views of the firm, and it is thus an\u003c\/p\u003e\u003cp\u003eimportant basis for corporate finance. This fact makes it necessary to consider the underlying\u003c\/p\u003e\u003cp\u003eissue of the theory of the firm for each problem in corporate finance. Secondly,\u003c\/p\u003e\u003cp\u003edifferent views of the theory of the firm have different implications for corporate finance.\u003c\/p\u003e\u003cp\u003eFor example, the appropriate valuation method depends on the considered view\u003c\/p\u003e\u003cp\u003eof the firm. A third result being observed is that corporate finance and the theory of the\u003c\/p\u003e\u003cp\u003efirm are in an ongoing change. An example of this is the emergence of human-capital\u003c\/p\u003e\u003cp\u003eintensive firms within the last decade.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783638842402\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783638842402","offer_id":58727440548165,"sku":"9783638842402","price":18.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/73461_248e49c6-b352-4e82-b20a-5c58859323e4.jpg?v=1785905082","url":"https:\/\/shop.autorenwelt.de\/products\/corporate-finance-and-the-theory-of-the-firm-von-stefan-detscher","provider":"Autorenwelt Shop","version":"1.0","type":"link"}