• Part A: Traditional forms of corporate financing
• 38 min
  1. Traditional theories of capital structure: trade-off versus pecking order

  • Prof. Vidhan K. Goyal
• 31 min
  2. Venture capital 1

  • Prof. Thomas J. Chemmanur
• 36 min
  3. Venture capital 2

  • Prof. Thomas J. Chemmanur
• 32 min
  4. Venture capital 3

  • Prof. Thomas J. Chemmanur
• 19 min
  5. Security Design 1

  • Prof. Tom Noe
• 32 min
  6. Security Design 2

  • Prof. Tom Noe
• 27 min
  7. Security Design 3

  • Prof. Tom Noe
• 33 min
  8. Initial public offerings 1

  • Prof. John Cooney
• 36 min
  9. Initial public offerings 2

  • Prof. John Cooney
• 25 min
  10. Raising funds in the secondary markets a brief review of the academic research related to Seasoned Equity Offers (SEOs)

  • Prof. Ajai Singh
• Part B: Innovations in corporate financing policy
• 19 min
  11. Peer-to-Peer (P2P) lending

  • Prof. Laura Gonzalez
• 66 min
  12. Equity crowdfunding and prosperity

  • Prof. Douglas Cumming
• 42 min
  13. Islamic banking and finance

  • Prof. Philip Molyneux

Printable Handouts

PDF

Navigable Slide Index

1. Introduction
2. Ex ante information asymmetry
3. Example model Nachman and Noe (1994)
4. Securities
5. Actions and beliefs
6. Valuation
7. Ent. payoffs
8. Strategies
9. Investors
10. Perfect Bayesian Equilibrium (PBE)
11. Problem: to many PBES
12. Use a refinement of PBE, D1 (Cho & Kreps)
13. Consequences of the D1 refinement
14. Mathematics of security design
15. The dual problem
16. Solution
17. Conditional stochastic dominance (CSD)
18. Stochastic dominance vs. CSD
19. Debt and stochastic dominance
20. Example where debt is not optimal design

Topics Covered

• Ex ante information asymmetry
• Example model (Nachman & Noe 1994)
• Securities
• Actions and beliefs
• Valuation
• Entrepreneur payoffs and strategies
• Investor beliefs and price assignment
• Perfect Bayesian Equilibrium (PBE)
• D1 refinement of PBE (Cho & Kreps)
• Mathematics of security design
• The dual problem and solution
• Stochastic dominance and debt
• Conditional stochastic dominance

Links

Series:

• Corporate Financing

Categories:

• Finance, Accounting & Economics

Talk Citation

Publication History

• Published on October 7, 2014