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Corporate Financial Theory Under Uncertainty

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  • Vernon L. Smith

Abstract

I. Debt versus equity financing, 452: Investor portfolio choice, 454; Fundamental leverage theorem, 456; Leverage as an externality 456; Effect of no default risk: the "homemade leverage theorem," 457; Corporate management and the capital markets, 458; Corporate capital budgets as a "public good," 460. — II. The corporate investor: long-, margin-, and short-risk positions, 462. — Appendix: option financing, 467.

Suggested Citation

  • Vernon L. Smith, 1970. "Corporate Financial Theory Under Uncertainty," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 451-471.
    • Handle: RePEc:oup:qjecon:v:84:y:1970:i:3:p:451-471.
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    File URL: http://hdl.handle.net/10.2307/1879429
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    Cited by:

    1. Ouhinou Amine & Elhachimi Zineb & Kartobi Eddine, 2023. "Study Of The Behavioural Determinants Of Investment In The Era Of The Covid-19 Pandemic Among Socially Responsible Investors In Morocco," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 2 Year 20, pages 31-47.

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