A History of Corporate Finance

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Cambridge University Press, Dec 28, 1999 - Business & Economics - 350 pages
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This thorough, scholarly study balances broad concepts with specific details of the history of finance from the 15th through 20th centuries. Though authors Jonathan Barron Baskin and Paul J. Miranti Jr. assume that the reader has some knowledge of finance and relevant terms, they avoid mathematical models and jargon in favor of plain language. Their book is accessible and valuable to lay readers as well as trained economists, historians, students of finance and anyone coping with an emerging market. The issues they examine remain surprisingly relevant, because - as they soon make clear - the problems that historical markets once confronted are the same issues of risk and information that markets face today, particularly emerging markets. As a historical study, this book presents no particular prescriptions for success or future action. However getAbstract recommends its explanation of why some structures succeeded and others failed, because those forces have clear implications today.

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Medieval and Renaissance Origins
Corporate Finance in the Age of Global Exploration Trading Companies and Oceanic Discovery 14501720
The Emergence of Public Markets for Investment Securities 16881815
Finance in the Age of Canals and Railroads 17751900
Common Stock Finance and the Rise of Managerial Capitalism 19001940
The Financing of Center Firms 19401973
Conglomerates and LeveragedBuyout Partnerships
Finance and Informational Asymmetries in the Ancient World
International Patterns of Corporate Governance

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Page 1 - Of these fundamental fields, economic history - which issues into and includes present-day facts - is by far the most important. I wish to state right now that if, starting my work in economics afresh, I were told that I could study only one of these three but could have my choice, it would be economic history that I should choose.
Page 2 - Second, the historical report cannot be purely economic but must inevitably reflect also ,institutional' facts that are not purely economic: therefore it affords the best method for understanding how economic and non-economic facts are related to one another and how the various social sciences should be related to one another. Third, it is, I believe, the fact that most of the fundamental errors currently committed in economic analysis are due to lack of historical experience more often than to any...
Page 2 - Nobody can hope to understand the economic phenomena of any, including the present, epoch who has not an adequate command of historical facts and an adequate amount of historical sense or of what may be described as historical experience. Second, the historical report cannot be purely economic but must inevitably reflect also 'institutional...
Page 8 - I venture the judgment that currently in the Western world, and especially in the United States, differences about economic policy among disinterested citizens derive predominantly from different predictions about the consequences of taking action, differences that can in principle be eliminated by the progress of positive economics — rather than from fundamental differences in basic values, differences about which men can ultimately only fight.
Page 13 - Herbert A. Simon: Administrative Behavior: A Study of Decision-Making Processes in Administrative Organization, 2nd ed.

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