Volume 1B covers the economics of financial markets: the saving and investment decisions; the valuation of equities, derivatives, and fixed income securities; and market microstructure.

The 12 articles in this second of twoparts condense recent advances on investment vehicles, performance measurement and evaluation, and risk management into a coherent springboard for future research. Written by world leaders in asset pricing research, they present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek authoritative perspectives and important details, this volume shows how the boundaries of asset pricing have expanded and at the same time have grown sharper and moreinclusive.
Offers analyses by top scholars of recent asset pricing scholarshipExplains how the 2008 financial crises affected theoretical and empirical researchCovers core and newly developing fields"

In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship incorporate finance. Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articlesreveal how specializations resonate with each other and indicate likely directions for future research. By includingboth established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003).
Presents coherent summaries of major finance fields, marking important advances and revisionsDescribes the best corporate finance research created about the 2008 financial crisesExposes readers to a wide range of subjects described and analyzed by the best scholars"

Volume 1A covers corporate finance: how businesses allocate capital - the capital budgeting decision - and how they obtain capital - the financing decision. Though managers play no independent role in the work of "Miller" and "Modigliani," major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm's decisions, it is therefore necessary to understand the forces that lead managers to maximize the wealth of shareholders.