| Testing the Modigliani-Miller theorem directly in the lab JENA ECONOMIC RESEARCH PAPERS # 2011 – 021 Testing the Modigliani-Miller theorem directly in the lab by M. Vittoria Levati Jianying Qiu Prashanth Mahagaonkar |
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| Modigliani-Miller Theorem Financing decisions are irrelevant. Modigliani-Miller Theorem Under some assumptions, corporate ﬁnancial policy is IRRELEVANT. • Financing decisions are irrelevant. • Capital structure is irrelevant. |
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| American Economic Association 2 The Modigliani-Miller theorem was really of the latter type: they show that if there are two or more firms of the same risk class (the same pattern of returns |
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| Lecture Notes to Accompany Brealey and Myers Principles of The Modigliani-Miller Theorem. .. 129 MM With Taxes |
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| I. Introduction* butions have shown by now that the Modigliani-Miller theorem is unlikely to hold and that fmanc ing decisions and even more so institutional structures on capital |
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| The Modigliani-Miller Theorems: A Cornerstone of Finance Keywords: Modigliani-Miller theorem, capital structure, leverage, dividend policy. JEL classification numbers: G32, G35 ∗ Paper presented at the international Conference |
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| FROM MODIGLIANI-MILLER TO GENERAL THEORY OF CAPITAL COST AND Weighted Average Cost< Equity Cost< ModiglianiMiller Theory < BrusovFilatova Theorem Until now, the basic theory of the cost of capital of |
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| Testing the Ricardian Equivalence Theorem: Time Series Evidence applied to the public sector, of the Modigliani-Miller theorem (Modigliani and Miller (1958)). By virtue of the Ricardian Equivalence Theorem, Government bonds do not |
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