The Cfo and Financial Structure

Weekly Toyo Keizai, October 27, 2001

3 Pages Posted: 10 May 2005

See all articles by Thomas E. Copeland

Thomas E. Copeland

University of San Diego - School of Business Administration

Abstract

No responsibility is clearer than the CFO's choice of the firm's financial structure, and yet no task is so complicated, and has so little helpful advice offered by academia. In fact, a theory of optimal capital structure remains of the great unsolved problems of modern corporate finance. However, academia is on the verge of a breakthrough in this classic question. This article begins by describing the commplexity of the problem, the history of thought about it starting with the Nobel prize-winning work of Merton Miller and Franco Modigliani, recent thinking particularly by Hayne Leland, where the field is headed, and what take-aways there are for CFO's.

Keywords: CFO, financial structure, corporate finance

Suggested Citation

Copeland, Thomas E., The Cfo and Financial Structure. Weekly Toyo Keizai, October 27, 2001, Available at SSRN: https://ssrn.com/abstract=717705

Thomas E. Copeland (Contact Author)

University of San Diego - School of Business Administration ( email )

5998 Alcala Park
San Diego, CA 92110-2492
United States

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