The Cost of Capital, Corporation Finance and the Theory of Investment de Merton Miller PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Cost of Capital, Corporation Finance and the Theory of Investment de Merton Miller PDF full book. Access full book title The Cost of Capital, Corporation Finance and the Theory of Investment de Merton Miller by Encyclopaedia Universalis,. Download full books in PDF and EPUB format.
Author: Encyclopaedia Universalis,
Publisher: Encyclopaedia Universalis
ISBN: 234100105X
Category : Business & Economics
Languages : fr
Pages : 32
Get Book Here
Book Description
Bienvenue dans la collection Les Fiches de lecture d’Universalis Franco Modigliani (1918-2003) et Merton Miller (1923-2000) ont jeté les bases de la finance d’entreprise moderne avec la publication, en juin 1958, de leur article The Cost of Capital, Corporation Finance and the Theory of Investment (Coût du capital, finance d’entreprise et théorie de l’investissement) dans l’American Economic Review. Une fiche de lecture spécialement conçue pour le numérique, pour tout savoir sur The Cost of Capital, Corporation Finance and the Theory of Investment de Merton Miller Chaque fiche de lecture présente une œuvre clé de la littérature ou de la pensée. Cette présentation est couplée avec un article de synthèse sur l’auteur de l’œuvre. A propos de l’Encyclopaedia Universalis : Reconnue mondialement pour la qualité et la fiabilité incomparable de ses publications, Encyclopaedia Universalis met la connaissance à la portée de tous. Écrite par plus de 7 400 auteurs spécialistes et riche de près de 30 000 médias (vidéos, photos, cartes, dessins...), l’Encyclopaedia Universalis est la plus fiable collection de référence disponible en français. Elle aborde tous les domaines du savoir.
Author: Encyclopaedia Universalis,
Publisher: Encyclopaedia Universalis
ISBN: 234100105X
Category : Business & Economics
Languages : fr
Pages : 32
Get Book Here
Book Description
Bienvenue dans la collection Les Fiches de lecture d’Universalis Franco Modigliani (1918-2003) et Merton Miller (1923-2000) ont jeté les bases de la finance d’entreprise moderne avec la publication, en juin 1958, de leur article The Cost of Capital, Corporation Finance and the Theory of Investment (Coût du capital, finance d’entreprise et théorie de l’investissement) dans l’American Economic Review. Une fiche de lecture spécialement conçue pour le numérique, pour tout savoir sur The Cost of Capital, Corporation Finance and the Theory of Investment de Merton Miller Chaque fiche de lecture présente une œuvre clé de la littérature ou de la pensée. Cette présentation est couplée avec un article de synthèse sur l’auteur de l’œuvre. A propos de l’Encyclopaedia Universalis : Reconnue mondialement pour la qualité et la fiabilité incomparable de ses publications, Encyclopaedia Universalis met la connaissance à la portée de tous. Écrite par plus de 7 400 auteurs spécialistes et riche de près de 30 000 médias (vidéos, photos, cartes, dessins...), l’Encyclopaedia Universalis est la plus fiable collection de référence disponible en français. Elle aborde tous les domaines du savoir.
Author: David Durand
Publisher:
ISBN:
Category :
Languages : en
Pages : 654
Get Book Here
Book Description
Author: Franco Modigliani
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
Get Book Here
Book Description
Author: Edward W. Clarke
Publisher:
ISBN:
Category : Capital
Languages : en
Pages : 70
Get Book Here
Book Description
Author: Peter Brusov
Publisher: Springer
ISBN: 3319147323
Category : Business & Economics
Languages : en
Pages : 374
Get Book Here
Book Description
This monograph is devoted to the modern theory of capital cost and capital structure and its application to the real economy. In particular, it presents a possible explanation to the causes of global financial crisis. The authors of the book modify the theory of Nobel Prize winners Modigliani and Miller to describe an alternative theory of capital cost and capital structure that can be applied to corporations with arbitrary lifetime and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations.
Author: H. Kent Baker
Publisher: John Wiley & Sons
ISBN: 1118022947
Category : Business & Economics
Languages : en
Pages : 504
Get Book Here
Book Description
A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.
Author: Raghavendra Rau
Publisher: Cambridge University Press
ISBN: 1316984117
Category : Business & Economics
Languages : en
Pages : 196
Get Book Here
Book Description
The Short Introduction to Corporate Finance provides an accessibly written guide to contemporary financial institutional practice. Rau deploys both his professional expertise and experience of teaching MBA and graduate-level courses to produce a lively discussion of the key concepts of finance, liberally illustrated with real-world examples. Built around six essential paradigms, he builds an integrated framework covering all the major ideas in finance over the past half-century. Ideal for students and practitioners alike, it will become core reading for anyone aspiring to become an effective manager.
Author: Ramesh K S Rao
Publisher: World Scientific
ISBN: 9814477303
Category : Business & Economics
Languages : en
Pages : 105
Get Book Here
Book Description
The cost of capital concept has myriad applications in business decision-making. The standard methodology for deriving cost of capital estimates is based on the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation), interactions between the borrowing rate and tax shields, and default considerations. It develops several new results and shows how better cost of capital and marginal tax rate estimates can be generated. The book's unified cost of capital theory is discussed with comprehensive numerical examples and graphical illustrations.This book will be of interest to corporate managers, academics, investment bankers, governmental agencies, and private companies that generate cost of capital estimates for public consumption.
Author: Richard W. Walker
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 254
Get Book Here
Book Description
Author: Hugo Oscar Berlingeri
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
Get Book Here
Book Description
Modigliani and Miller (1958, The cost of capital, corporation finance and the theory of investment, The American Economic Review, Vol. 48, Nordm; 3) assert that, beyond some high level of leverage, the cost of equity curve may be decreasing. Despite the lack of rigour of their argument, this proposition received a small amount of criticism. However, it is wrong: in an MM world, the cost of equity function must be increasing, because under the dynamics of MM Proposition II, the marginal cost of debt must be lower than the cost of equity. Should, by any chance, the marginal cost of debt be higher than the cost of equity, arbitrage opportunities, incompatible with market equilibrium, would emerge. In this way, the intuitive idea that the cost of equity may increase unboundedly is recovered. Nevertheless, the cost of equity function will tend to infinity only if the first derivative of the interest cost function also tends to infinity. Otherwise, in the limit, the cost of equity will tend to a finite number. These findings reinforce the theoretical validity of MM propositions.
