The Making of Modern Corporate Finance by Donald Chew

Why did the “stagfla?on” of the 1970s?the improbable combination of high unemployment and runaway infla?on?prove so painful and protracted? What explains the U.S. stock market’s remarkable forty-year run of 12 percent average annual returns since then? Why is Japan still mired in a decades-long recession?and the Chinese economy in a tailspin? And what accounts for the resilience of U.S. stock and labor markets in the wake of the COVID-19 pandemic and in the face of the Fed’s record interest rate hikes?

Donald H. Chew, Jr., argues that answers to these questions lie in the principles and methods of “modern corporate finance.” Ideas formulated and tested by finance scholars?notably, an efficient stock market in which prices reflect the long-run values of public companies and a “market for corporate control” that exerts continuous pressure on management?informed and spurred the investor-driven capitalism that has created the world’s most productive and valuable companies. Drawing on his career-long relationships with leading academics and practitioners, Chew profiles key figures in the development of modern corporate finance while emphasizing their counterintuitive lessons for  shareholders, companies, and countries. Corporate efficiency and value creation, he contends, are the fundamental source of the social wealth essential to addressing challenges such as poverty and climate change. Lively and provocative, this book makes corporate finance approachable?and even admirable?for readers interested in how the success and failure of companies affect their lives.

Book Details:

Author: Donald Chew
Publisher: Columbia University Press
ISBN : 9780231222488
Price : ?999
Binding : Hardcover
Page : 328

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• About the Author

About Sprightly Spirit

“I dare do all that may become a man. Who dares more is none”. And all, may be. It may be the vigor. Or the spirit. Or the courage to avoid being “politically correct” or bent. And, ban all averse with immaculate overture of graciously fathomable words firm in views. Subtle. Justifying the undying conscience. Values. Knowledge. And, dares to stay true. True to own. True to the world. And, to the words. With a dream in eyes it exists. In you. In me. In all. The sprite that never shies away. The spirit that never dies!