With a title of a book like History of Corporate Finance, the expectations are running high even before one starts reading. It is written by
The book was released in 1997 and could easily have been a finance classic but somehow does not hold the reader’s attention. The essays do not connect seamlessly and one does not get a complete picture. It ends up being a mesh up of history of firm, money, governance and so on.
Having said that, it is still a compelling read and tells you a lot about how different financing mechanisms emerged – debt, debetures, common stock, preference stock and so on. Then one also understands how for finance to work one has to look beyond finance. Things like law, information…
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