Capital Structure and Corporate Governance: The Role of Hybrid Financial Instruments

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Despite a clear distinction in law between equity and debt, the results of such a categorization can be misleading. The growth of financial innovation in recent decades necessitates the allocation of control and cash-flow rights in a way that diverges from the classic understanding. Some of the financial instruments issued by companies, so-called hybrid instruments, fall into a grey area between debt and equity, forcing regulators to look beyond the legal form of an instrument to its practical substance. This innovative ...

Capital Structure and Corporate Governance: The Role of Hybrid Financial Instruments 2013, Kluwer Law International

ISBN-13: 9789041148438

Hardcover

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