The Role of Banks in Monitoring Firms

The Role of Banks in Monitoring Firms : The Case of the Credit Mobilier

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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 effectshow more

Product details

  • Paperback | 196 pages
  • 156 x 234mm | 358g
  • Taylor & Francis Ltd
  • London, United Kingdom
  • English
  • 85 black & white tables
  • 1138985503
  • 9781138985506

Table of contents

Introduction 1. The debt contract according to agency and signalling theories 2. The Credit Mobilier and the French Stock Exchange 1852-1914: an empirical perspective 3. Corporate Investment, Cash Flow and Financial Constraint For Firms: The Credit Mobilier Case 4.The Supervisory role of the Credit Mobilier: Some Interpretation 5. General Conclusion 6. Appendicesshow more