The Role of Banks in Monitoring Firms : The Case of the Credit Mobilier.
Title:
The Role of Banks in Monitoring Firms : The Case of the Credit Mobilier.
Author:
Paulet, Elisabeth.
ISBN:
9780203211809
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (193 pages)
Series:
Routledge Explorations in Economic History
Contents:
Book Cover -- Title -- Contents -- List of figures -- List of tables -- Preface -- Acknowledgements -- INTRODUCTION -- AGENCY THEORY AND MONITORING A theoretical and empirical interpretation -- THE CRDIT MOBILIER AND THE FRENCH STOCK EXCHANGE 1853 1914 An empirical perspective -- CORPORATE INVESTMENT, CASH FLOW AND FINANCIAL CONSTRAINTS OF FIRMS The case of the Credit Mobilier -- THE SUPERVISORY ROLE OF THE CRDIT MOBILIER Some interpretations -- GENERAL CONCLUSIONS -- Data on the Credit Mobilier -- Data relative to the general indices (GNP, share prices) for France between 1852 and 1914 -- Share price series -- Data relative to the affiliated companies -- Data relative to non-affiliated companies -- Monthly share prices for affiliated companies between 1866 and 1868 -- Data for investment and cash flow tests -- Notes -- Bibliography -- Index.
Abstract:
This book addresses issues in the current literature on corporate finance using historical evidence. In particular it looks at the role of universal banks in relaxing the credit constraints of firms, supervising managers and stabilizing share prices. The key issues is whether the Anglo-American asset based financing is more efective than the main-bank approach used in Germany and Japan. Earlier studies have found that firms with a close relationship with a major bank have high market value compared to book value, although it is difficult to determine whether this is cause or effect.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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