TY - BOOK AU - Christian Pfeil PY - 2002 CY - Berlin, Germany PB - Peter Lang Verlag SN - 0946-0209 TI - Capital Structure, Managerial Incentives and Corporate Governance UR - https://www.peterlang.com/document/1093337 N2 - What factors determine a firm’s financing decision? Informational economics and contract theory have contributed a great deal to answer this question. This book contains three essays that further contribute to this strand of literature with the focus on theories that view capital structure as a disciplining instrument for a self-interested management. Some of the existing theories abstract from other disciplining devices such as ordinary incentive wages to justify debt as a mean to mitigate a moral hazard problem between managers and owners of a firm. Two of the models presented here turn to the question of whether debt can play a role as an incentive device when other incentive mechanisms are available as well. A third model revisits the signaling literature on capital structure in the light of new empirical evidence. All models are embedded into a corporate governance framework that allows to set the conclusions into a broader perspective. KW - Contract theory, Mangerial incentives, Firm financing LA - English ER -