The Development of Economic Thought on the Modigiliani-Miller Theory of the Cost of Capital, Corporation Finance and the Theory of Investment PDF Download
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Author: Richard W. Walker
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 254
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Book Description
Author: Richard W. Walker
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 254
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Book Description
Author: Encyclopaedia Universalis,
Publisher: Encyclopaedia Universalis
ISBN: 234100105X
Category : Business & Economics
Languages : fr
Pages : 32
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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: Franco Modigliani
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
Author: David Durand
Publisher:
ISBN:
Category :
Languages : en
Pages : 654
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Book Description
Author: Edward Israel Friedland
Publisher:
ISBN:
Category :
Languages : en
Pages : 184
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Book Description
Author: Faruk Ahmeti
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
In their study “The cost of capital, corporation finance and the theory of investment” (1958) laureates of Nobel Price Nobel Franco Modigliani and Merton Miller represent what could possibly be the most important theory for the structure of capital, through which they explain the effect of the capital structure for the value of companies. Despite the hard work by Modigliani and Miller and the entire time spent by numerous scholars in developing concepts regarding this theory, we can say that it still remains unclear and faces many objections. This paper attempts to assess and make a critical review of Modigliani and Miller's Theory and the dominating literature that is pro and against this theory, aiming to identify the theory's importance and contribute to the field modern finances. To this end, the paper assessed and analyses Modigliani and Miller's theorem by considering the original work of authors Modigliani and Miller (1958, 1961 and 1963) as well as the dominating literature that covers this theorem, by mirroring the firmest opinions from different authors either pro or against. This paper aims to present the implications of Modigliani and Miller's Theory, its importance and theoretical contribution.
Author: Hugo Oscar Berlingeri
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
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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.
Author: Lokanathan V.
Publisher: S. Chand Publishing
ISBN: 9352533372
Category : History
Languages : en
Pages : 392
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Book Description
This book provides a comprehensive coverage of the origin and development of economic thought from the ancient times to the present day. It documents the contributions of major thinkers from the time of Hebrews to Maurice Dobb, and the perspectives that influenced the economic thought. The book also provides an account of the recent trends in Indian economic thought and will be of interest and relevance to all students and scholars of the subject. It covers the syllabus of economic thought of major Indian universities.
Author: Alessandro Roncaglia
Publisher: Cambridge University Press
ISBN: 1316812995
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
The evolution of economic thought can be traced back from its beginnings in classical antiquity up to the present day. In this book, Professor Alessandro Roncaglia offers a clear, concise and updated version of his award-winning The Wealth of Ideas, studying the development of economic thought through perspectives and debates on the economy and society over time. With chapters on prominent economic theorists, including William Petty, Karl Marx, and John Maynard Keynes, as well as on other important figures and key debates of each period, Roncaglia critically evaluates the foundations of the marginalist–neoclassical (scarcity–utility) approach in comparison to the Classical–Keynes approach. A comprehensive guide to the history of economic thought, this book will be of value not only to undergraduate and postgraduate students studying economic thought, but also to any readers desiring to study how economics has evolved up to the present day.
Author: Lee H. Dymond
Publisher: Lulu.com
ISBN: 1483430804
Category : Business & Economics
Languages : en
Pages : 654
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Book Description
Since 1969, 75 people have been awarded the Nobel Prize in Economics. Recent Recognized "A History of Economic Thought - Contributions of the Nobel Laureates to Economic Science" describes their major accomplishments in a manner so all readers, regardless of their knowledge of economics, can appreciate the efforts of these scholars and their impact on the development and progress of economic science. Begin with a brief tour of economic thought and the factors that have influenced economic doctrine from the 16th through the 20th century. Then, for each Nobel Laureate, learn about their background and professional affiliations. Complete your understanding of each Laureate's accomplishments with a concise, relatively non-technical summary of their Nobel Prize Lecture.
