Corporate Finance and Corporate Financial Risk Management
Research on Corporate Finance and Corporate Financial Risk Management is led by Professor Lambrecht. Other faculty members working in this area include Dr Shantanu Banerjee, Dr Argyro Panaretou, and Dr Greg Pawlina.
Recent contributions in this area include theoretical work on the market for corporate control and the interaction between managerial agency, capital structure and investment decisions (Lambrecht), theoretical work on investment under uncertainty and capital structure (Pawlina), empirical work on trade credit (Banerjee), and the interaction between product markets and financing choice (Banerjee, Lambrecht and Pawlina).
Ongoing research topics and interests in the field of Corporate Finance and Corporate Financial Risk Management include:
- An ESRC-funded research programme examining investment and financing policies of corporations and households (Lambrecht and Pawlina)
- Corporate payout policy (Banerjee)
- Theoretical and empirical work on the causes and consequences of corporate hedging activity (Panaretou)
Illustrative publications include:
- Debt and managerial rents in a real-options model of the firm. Journal of Financial Economics (BM Lambrecht and SC Myers, forthcoming)
- Buyer-supplier relationships and the stakeholder theory of capital structure. Journal of Finance (S Banerjee, S Dasgupta, and Y Kim, forthcoming)
- A theory of takeovers and disinvestment. Journal of Finance (BM Lambrecht and SC Myers, 2007)
Current working papers relating ro Corporate Finance and Corporate Risk Management are available via the School's working papers database.
