Firms, Contracts, and Financial Structure

by Oliver Hart

Overview

This work uses recent developments in the theory of incomplete contracts to analyze a range of topics in organization theory and corporate finance. Beginning with a general model of the firm, Hart analyzes in greater depth the financial structure of firms, debt collecting and bankruptcy. Oliver Hart is a leading researcher in this area, and these Clarendon Lectures are an important contribution to contact theory. The work will be of interest to teachers, graduate students and advanced students of microeconomics, the theory of the firm, industrial organization, and finance.

Product Details

ISBN-13:	9780191521720
Publisher:	Oxford University Press
Publication date:	10/05/1995
Series:	Clarendon Lectures in Economics
Sold by:	Barnes & Noble
Format:	eBook
Lexile:	1420L (what's this?)
File size:	2 MB

About the Author

Oliver Hart is Professor of Economics at Harvard University.

Editorial Reviews

"This book, which synthesizes most of Oliver Hart's work since 1980, provides a clear introduction to the modern theory of the firm, and ultimately a very compelling answer to...fundamental questions in the form of the increasingly accepted Property Rights Theory of the Firm."—Jeffrey Zwiebel, Economica

"I expect it to be essential reading for any economics or finance Ph. D. student interested in corporate finance. Thus, this volume should contribute to the development of the contracts approach to corporate finance....Firms, Contracts, and Financial Structure provides an excellent exposition of the incomplete contracts approach to the theory of the firm....[I]t is a fine survey of the author's contributions to the theory of firm boundaries and financial structure. As such, I commend it highly."—Milton Harris, Review of Financial Studies

"A very clear, unified treatment of the implications of incomplete contracting. A truly solid foundation for the theory of integration and financial structure."—Birger Wernerfelt, Sloan School, MIT

"I recommend this book to all who are interested in the theory of the firm and in Hart's current and recent contributions to this theory. There is much to applaud in the book."—Harold Demsetz, University of California, Los Angeles

From the Publisher