Рекомендуемая литература. 
Корпоративные финансы. 
Финансовые решения и ценность фирмы

Литературные обзоры

• 1. Graham, J. Taxes and Corporate Finance: A Review / J. R. Graham // Review of Financial Studies. — 2003. — № 16 (4). — P. 1075—1129.
• 2. Harris, M. The theory of capital structure / M. Harris, A. Raviv // The Journal of Finance. — 1991. — № 46 (1). — P. 297—355.

Статьи no структуре капитала, ставшие классикой

• 1. King, М. Taxation and the cost of capital / M. King // Review of Economic Studies. — 1974. — Vol. 41. — № 1. — P. 21—35.
• 2. Miller, M. Debt and taxes / M. Miller // The Journal of Finance. — 1977. — Vol. 32. — № 2. — P. 261−275.
• 3. Modigliani, F. Corporate income taxes and the cost of capital: a correction / F. Modigliani, M. H. Miller // American Economic Review. — Vol. 53. — № 3. — P. 433−443.
• 4. Modigliani, F. The cost of capital, corporation finance and the theory of investment / F. Modigliani, M. Miller // American Economic Review. — 1958. — Vol. 48. — № 3. — P. 261−297.
• 5. Myers, S. Determinants of corporate borrowing / S. Myers //Journal of Financial Economics. — 1977. — Vol. 5. — № 2. — P. 147—175.
• 6. Stiglitz, J. Taxation, corporate financial policy and the cost of capital / J. Stiglitz //Journal of Public Economics. — 1973. — Vol. 2. — № 1. — P. 1—34.

Гипотеза компромисса в теории выбора структуры капитала

• 1. Dangl, Т. Credit risk and dynamic capital structure choice / T. Dangl, J. Zechner //Journal of Financial Intermediation. — 2004. — Vol. 13. — № 2. — P. 183−204.
• 2. Fischer, E. Dynamic capital structure choice: theory and tests / E. O. Fischer, R. Heinke, J. Zechner // The Journal of Finance. — 1989. — Vol. 44. — № 1. — P. 19−40.
• 3. Hackbarth, D. Can the trade-off theory explain debt structure? / D. Hackbarth, C. A. Hennessy, H. E. Leland // Review of Financial Studies. — 2007. — Vol. 20. — № 5. — P. 1389−1428.
• 4. Kraus, A. A state-preference model of optimal financial leverage / A. Kraus, R. Litzenberger // The Journal of Finance. — 1973. — Vol. 28. — № 4.-P.911−922.
• 5. Leland, H. Agency costs, risk management, and capital structure /

H. E. Leland // The Journal of Finance. — 1998. — Vol. 53. — № 4. — P. 213— 1243.

• 6. Leland, H. Corporate debt value, bond covenants, and optimal capital structure / H. E. Leland // The Journal of Finance. — 1994. — Vol. 49. — № 4. — P. 1213−1252.
• 7. Leland, H. Optimal capital structure, endogenous bankruptcy, and the term structure of credit spreads / H. E. Leland, К. B. Toft // The Journal of Finance. — 1996. — Vol. 51. — № 3. — P. 987−1019.

Асимметричность информации, стимулы менеджеров и сигнальный эффект

• 1. MacKie-Mason, J. Do taxes affect corporate financing decisions? / J. MacKie-Mason // The Journal of Finance. — 1990. — Vol. 42. — № 5. — P. 1471−1493.
• 2. Myers, S. Corporate financing and investment decisions when firms have information that investors do not have / S. Myers, N. Majluf //Journal of Financial Economics. — 1984. — Vol. 13. — № 2. — P. 187—221.
• 3. Myers, S. The capital structure puzzle / S. C. Myers // The Journal of Finance. — 1984. — Vol. 39. — № 3. — P. 575−592.
• 4. Ross, S. The determination of financial structure: the incentive-signaling approach / S. A. Ross // The Bell Journal of Economics. — 1977. — Vol. 8. — № 1. — P. 23−40.

Агентские издержки и структура собственности

• 1. Jensen, М. Agency costs of free cash flow, corporate finance, and takeovers / M. C. Jensen // American Economic Review. — 1986. — Vol. 76. — № 2. — P. 323−329.
• 2. Jensen, M. Theory of the firm: managerial behavior, agency costs and ownership structure / M. C. Jensen, W. Meckling // Journal of Financial Economics. — 1976. — Vol. 3. — № 4. — P. 305−360.
• 3. Jensen, M. The agency costs of overvalued equity / M. C. Jensen // Financial Management. — 2005. — Vol. 34. — № 1. — P. 5—19.

Общие вопросы теории структуры капитала

• 1. Booth, L. Capital structure in developing countries / L. Booth, V. Aivazian, A. Demirguc-Kunt, V. Maksimovic // Financial Management. — 2001. — Vol. 18. — № 4. — P. 82−91.
• 2. Bradley, M. On the existence of an optimal capital structure: theory and evidence / M. Bradley, G. Jarrell, E. Kim // The Journal of Finance. — 1984. — Vol. 39. — № 3. — P. 857—878.
• 3. DeAngelo, H. Optimal capital structure under corporate and personal taxation / H. DeAngelo, R. Masulis // Journal of Financial Economics. — 1980. — Vol. 8. — № 1. — P. 3−29.
• 4. Goldstein, R. An EBIT-based model of dynamic capital structure / R. Goldstein, H. Leland //Journal of Business. — 2001. — Vol. 74. — № 4. — P.483−512.
• 5. Titman, S. The determinants of capital structure choices / S. Titman, R. Wessels // The Journal of Finance. — 1988. — Vol. 43. — № 1. — P. 1—19.

Политика выплат

• 1. Allen, F. Theory of dividends based on tax clienteles / F. Allen, A. Bernardo, I. Welch // The Journal of Finance. — 2000. — Vol. 55. — № 6. — P. 2499−2536.
• 2. Barclay, M. Corporate payout policy: Cash dividends versus open-market repurchases / M. Barclay, C. Smith // Journal of Financial Economics. — 1988. — Vol. 22. — № 1. — P. 61−82.
• 3. Byrd, J. Stockholder-manager conflicts and firm value / J. Byrd, R. Parrino, G. Pritsch // Financial Analysts Journal. — 1998. — Vol. 54. — № 3. — P. 31−40.
• 4. DeAngelo, H. The irrelevance of the MM dividend irrelevance theorem / H. DeAngelo, L. DeAngelo // Journal of Financial Economics. — 2006. — Vol. 79. — № 2. — P. 293−315.
• 5. Ditmar, A. Why do firms repurchase stocks? / A. Ditmar // Journal of Business. — 2000. — Vol. 73. — № 3. — P. 331−355.
• 6. Jagannathan, M. Financial flexibility and the choice between dividends and stock repurchase / M. Jagannathan, C. Stephens, M. Weisbach //Journal of Financial Economics. — 2000. — Vol. 57. — № 3. — P. 355—384.
• 7. Scholes, M. Dividends and taxes / M. Scholes //Journal of Financial Economics. — 1978. — Vol. 6. — № 4. — P. 333−364.

Что говорят и делают менеджеры

• 1. Graham, J. How do CFO make capital budgeting and capital structure decisions / J. Graham, C. Harvey // Journal of Applied Corporate Finance. — 2002. — Vol. 15. — № 1. — P. 8−23.
• 2. Kamath, R. Long-term financing decisions: views and practices of financial managers of nyse firms / R. Kamath // Financial Review. — 1997. — Vol. 32. — № 2. — P. 351−356.
• 3. Pinegar,]. What managers think of capital structure theory: a survey /

J. Pinegar, L. Wibricht // Financial Management. — 1989. — Vol. 18. — № 4. — P. 82−91.