Presidential Address: The Corporation in Finance

To produce significant net present value, an entrepreneur has to differentiate her enterprise from the ordinary. To take collaborators with her, she needs to have substantial ownership, and thus financing. But it is hard to raise finance against differentiated assets. So an entrepreneur has to commi...

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Bibliographic Details
Published in:The Journal of finance (New York) 2012-08, Vol.67 (4), p.1173-1217
Main Author: RAJAN, RAGHURAM G.
Format: Article
Language:English
Subjects:
Assets
Cash flow
Corporate finance
Entrepreneurial finance
Entrepreneurs
Finance
Financing
Firm value
Human capital
Net present value
Ownership
Present value
Securities markets
Standardization
Stock exchange
Stock exchanges
Studies
Transformation
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