This article reviews the development of corporate finance from domestic analyses to international comparisons of financial systems, to comparative corporate governance, to law and finance, and most recently to politics and finance. It describes how both theoretical developments and empirical...

I show how to design a welfare-improving tax system for a Diamond-Dybvig (DD) related economy. In addition to its relevance to the DD literature, the paper constructs a nice example for a Pareto-improving intervention when markets are incomplete, and provides a welfare analysis of the market for...

In a series of stimulating and thought provoking papers, Mayer (1988, 1990)—on the grounds of flow-of-funds data of the type presented in Table 1—has argued that: (i) retentions are usually the most important source of investment finance, which by itself is an indication of the substantial...