行為公司金融-綜述(pdf 63)

Table of Contents
I. Introduction..1
II. The irrational investors approach.4
A. Theoretical framework.6
B. Empirical challenges..10
C. Investment policy .13
C.1. Real investment 14
C.2. Mergers and acquisitions..16
C.3. Diversification and focus .18
D. Financial policy ....19
D.1. Equity issues19
D.2. Repurchases.23
D.3. Debt issues...24
D.4. Cross-border issues 26
D.5. Capital structure27
E. Other corporate decisions ....28
E.1. Dividends ....29
E.2. Firm names ..31
E.3. Earnings management .32
E.4. Executive compensation...33
III. The irrational managers approach...34
A. Theoretical framework....36
B. Empirical challenges..39
C. Investment policy .40
C.1. Real investment 40
C.2. Mergers and acquisitions..42
D. Financial policy ....43
D.1. Capital structure43
D.2. Financial contracting...44
E. Other behavioral patterns44
E.1. Bounded rationality45
E.2. Reference-point preferences..46
IV. Conclusion.48
References 51
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