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Handbook of Corporate Finance - Volume 1, Empirical Corporate Finance

Handbook of Corporate Finance - Volume 1, Empirical Corporate Finance

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 North-Holland is an imprint of Elsevier Radarweg 29, PO Box 211, 1000 AE Amsterdam, The NetherlandsThe Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, UK First edition 2007Reprinted 2008Copyright © 2007 Elsevier BV. All rights reserved  No part of this publication may be reproduced, stored in a retrieval systemor transmitted in any form or by any means electronic, mechanical, photocopying,recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology RightsDepartment in Oxford, UK: phone (
44) (0) 1865 843830; fax (
44) (0) 1865 853333;email: permissions@elsevier.com. Alternatively you can submit your request online byvisiting the Elsevier web site at http://elsevier.com/locate/permissions, and selecting
Obtaining permission to use Elsevier material 
 Notice No responsibility is assumed by the publisher for any injury and/or damage to personsor property as a matter of products liability, negligence or otherwise, or from any useor operation of any methods, products, instructions or ideas contained in the materialherein. Because of rapid advances in the medical sciences, in particular, independentverification of diagnoses and drug dosages should be made
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
A catalog record for this book is available from the Library of CongressISBN: 978-0-444-50898-0ISSN: 1873-1503Printed and bound in
08 09 10 10 9 8 7 6 5 4 3 2For information on all North-Holland publicationsvisit our website at www.elsevierdirect.com
Advisory Editors:Kenneth J. Arrow, Stanford University, George C. Constantinides, University of Chicago, Harry M. Markowitz, University of California, San Diego, Robert C. Mer-ton, Harvard University, Stewart C. Myers, Massachusetts Institute of Technology, PaulA. Samuelson, Massachusetts Institute of Technology, and William F. Sharpe, StanfordUniversity.The Handbooks in Finance are intended to be a definitive source for comprehensiveand accessible information in the field of finance. Each individual volume in the seriespresents an accurate self-contained survey of a sub-field of finance, suitable for useby finance and economics professors and lecturers, professional researchers, graduatestudents and as a teaching supplement. The goal is to have a broad group of outstandingvolumes in various areas of finance.William T. ZiembaUniversity of British ColumbiaPublisher’s NoteFor a complete overview of the Handbooks in Finance Series, please refer to the listingat the end of this volume.