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This Ph.D. dissertation studies corporate finance and consists of three chapters. The first chapter examines the value of a firm's board political capital by identifying professional and social ties of top executive branch officials and corporate directors in the United States. Using the close 2008 Democratic presidential primaries between Hillary Clinton and Barack Obama as repeated shocks to board political capital, I find that director network ties to politicians significantly enhance shareholder value. Firms connected to the winning candidate experience a 1.4% higher abnormal return relative to non-winner-connected firms. Further, I show that one channel of value creation is through an improved likelihood of merger completions and higher merger returns. Overall, my study shows that less visible political ties can allow firms to extract significant rents even in a low corruption environment.The second chapter studies how the existence of an important production contract affects the choice of CEO compensation contract. We hypothesize that having major customers raises the costs associated with CEO risk-taking incentives, leading to lower option-based compensation. Using import tariff cuts as exogenous shocks to customer relationships, we find firms with major customers significantly reduce CEO option-based compensation following tariff reductions. We also document that following tariff cuts, the value of these relationships as well as the firm itself significantly decline in response to higher option compensation. Our study provides new insights into how important stakeholders shape executive compensation decisions.The last chapter examines whether shareholder attention improves director incentives. Using exogenous industry shocks to institutional investor portfolios, we find that institutional investor distraction weakens board oversight. Distracted institutions are less likely to discipline ineffective directors using their votes, while directors with poor proxy voting outcomes are less likely to depart. Consequently, independent directors face weaker monitoring incentives and exhibit poor performance. Also, ineffective independent directors are more frequently appointed. Such firms exhibit more earnings management, high unexplained CEO pay, and lower valuation. Overall, our findings suggest that institutional investor attention significantly strengthens director monitoring incentives and board governance.

Small business has an uneasy relationship with the banking sector. In some countries, governments have stepped in to create specialist institutions for small business finance. One such institution was created in Australia after World War II. An Industrial Finance Department was created within a restructured Commonwealth Bank to provide specialist financial assistance to small business. This institution, neglected by historians, grew and survived in an evolving political and often hostile environment. The Industrial Finance Department provides further insight into the politics of financial provision and regulation in Australia.

"Quantitative Corporate Finance presents a comprehensive treatment of the legal arrangement of the corporation, the instruments and institutions through which capital can be raised, the management of the flow of funds through the individual firm, and the methods of dividing the risks and returns among the various contributors of funds. Guerard and Schwartz cover a wide variety of tools and techniques used to evaluate and manage financial performance, with particular emphasis on the application of regression analysis, time series modeling, the Capital Asset Pricing Model (CAPM), and multi-factor risk models."--Jacket

Intro -- Table of Contents -- Foreword -- Acknowledgments -- Selected Abbreviations -- Overview and Policy Messages: Mobilizing Finance and Managing Vulnerability -- Capital flows to developing countries continued to recover, but at a slower pace -- The world economy is slowing -- Growing global imbalances pose risks for emerging market economies -- The complexity of developing-country debt poses new challenges -- Meeting poor countries' financing needs requires recognition of the countries' special challenges -- Chapter 1 Financial Flows to Developing Countries: Recent Trends and Near-Term Prospects -- Capital flows to developing countries -- Capital flows from the private sector -- Capital flows from the official sector -- Annex: Recent trends in workers' remittances to developing countries -- Notes -- References -- Chapter 2 Global Outlook and the Developing Countries -- Global growth -- Global imbalances, currencies, and inflation -- World trade -- Commodity markets -- Risks and policy priorities for the global economy -- Notes -- References -- Chapter 3 Global Imbalances and Emerging Market Economies -- The mixed effect of exchange-rate fluctuations -- Global monetary tightening: higher interest rates -- Potential volatility in emerging-market spreads -- Capital flows and reserve accumulation -- Promoting stability in global capital flows -- Notes -- References -- Chapter 4 Complex Challenges in Developing-Country Debt -- The change since the 1990s -- External debt trends in emerging markets -- The rise of domestic debt markets -- Balancing external and domestically financed debt -- No room for complacency, despite improvements -- Notes -- References -- Chapter 5 Meeting the Financing Needs of Poor Countries -- The external financing environment in poor countries -- Other developing countries as a source of finance for poor countries.

1. Introduction / Andreas Pyka and Hans-Peter Burghof -- 2. Financial bubbles, crises and the role of government in unleashing golden ages / Carlota Perez -- 3. Innovation, financial activities and the future of the EU / Pier Paolo Saviotti -- 4. Innovation and economic performance (industrial and financial) : recent results and questions for future research / Pelin Demirel and Mariana Mazzucato -- 5. An essay on the emergence, organization and performance of financial markets : the case of the alternative investment market / Valerie Revest and Alessandro Sapio -- 6. Financing instruments to combat the crisis / Ryszard Wilczynski -- 7. Automotive dynamics in the Stockholm and southern German regional economies : a comparison / Gunnar Eliasson -- 8. Innovation policy, innovation and innovation finance co-evolution : the Israeli case and some implications / Morris Teubal -- 9. Venture capital in Canada / Jorge Niosi.

There is no proper place within economic thought for the void. It appears nowhere in the canonical texts of political economy, let alone the discourse of conventional economics. Yet one cannot shake the sense that it is implied in most if not all financial commentary. At the very least, the void exerts a magnetic pull on a range of related terms in the lexicon. Could it be that through these it grounds the financial imagination in fundamental ways?

The recent financial crisis has significantly damaged the global financial industry's image, particularly affecting the image of interest-bearing assets as well as the regulatory framework of central banks. As a result, new ways of doing finance have developed, creating alternatives to the regular financial system. These alternatives include ethical banking, which prohibits certain practices, such as, insider trading, bribery, discrimination, money laundering, and fraud; non-banking solutions, a method of intermediating money as an alternative to interest-based loans; and Islamic finance, an alternative method to interest-based loans which prohibits interest-based loans, something that is considered central to the conventional financial system. This book explores each of these non-conventional banking and financing mechanisms in detail, with case studies from distinguished experts in higher education institutions, asset management firms, non-profit, multilateral and international organizations, and includes examples from Egypt, Spain, the United States, Sweden, and Indonesia, in which these alternative methods have succeeded. Social Impact Finance is the third book in the IE Business Publishing series for the Saudi Spanish Center of Islamic Economics and Finance and will be of particular interest to micro, small & medium sized businesses as well as young entrepreneurs.

Since the pioneering work of Black, Scholes, and Merton in the field of financial mathematics, research has led to the rapid development of a substantial body of knowledge, with plenty of applications to the common functioning of the world's financial institutions. Mathematics, as the language of science, has always played a role in the development of knowledge and technology. Presently, the high-tech character of modern business has increased the need for advanced methods, which rely to a large extent on mathematical techniques. It has become essential for the financial analyst to possess a high degree of proficiency in these mathematical techniques.