Asymmetric Information, Corporate Finance, and Investment (National Bureau of Economic Research Project Report)

Contents......Page 8
Acknowledgments......Page 10
Introduction......Page 12
1. Macroeconomic Models with Equity and Credit Rationing......Page 26
2. Collateral, Rationing, and Government Intervention in Credit Markets......Page 54
3. Do Firms Care Who Provides Their Financing?......Page 74
4. Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships......Page 116
5. Sustaining Investment, Discretionary Investment, and Valuation: A Residual Funds Study of the Paper Industry......Page 138
6. Are Large Shareholders Effective Monitors? An Investigation of Share Ownership and Corporate Performance......Page 160
7. Economic and Financial Determinants of Oil and Gas Exploration Activity......Page 192
8. AIL Theory and the Ailing Phillips Curve: A Contract-Based Approach to Aggregate Supply......Page 218
9. Liquidity Constraints in Production-Based Asset- Pricing Models......Page 242
10. Understanding Stock Price Behavior around the Time of Equity Issues......Page 268
11. Investment, Financial Factors, and Cash Flow: Evidence from U.K. Panel Data......Page 290
12. Financial Systems, Corporate Finance, and Economic Development......Page 318
Contributors......Page 344
Discussants and Other Participants......Page 346
Author Index......Page 348
Subject Index......Page 352