In Search of New Foundations

54 Pages Posted: 12 Jun 2000 Last revised: 24 Jul 2022

See all articles by Luigi Zingales

Luigi Zingales

University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)

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Date Written: May 2000

Abstract

In this paper I argue that corporate finance theory, empirical research, practical applications, and policy recommendations are deeply rooted in an underlying theory of the firm. I also argue that while the existing theories have delivered very important and useful insights, they seem to be quite ineffective in helping us cope with the new type of firms that are emerging. I outline the characteristics that a new theory of the firm should satisfy and how such a theory could change the way we do corporate finance, both theoretically and empirically.

Suggested Citation

Zingales, Luigi, In Search of New Foundations (May 2000). NBER Working Paper No. w7706, Available at SSRN: https://ssrn.com/abstract=232092

Luigi Zingales (Contact Author)

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