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

By Lorenzo Sasso

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.

• Format: Hardcover
• Language: English
• ISBN: 9041148434
• ISBN13: 9789041148438
• Release Date: August 2013
• Publisher: Kluwer Law International
• Length: 248 Pages
• Weight: 1.16 lbs.
• Dimensions: 0.6" x 6.1" x 9.2"