Una rivisitazione delle teorie di Modigliani sulla finanza

Terenzio Cozzi ()
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Terenzio Cozzi: Università degli Studi di Torino, Dipartimento di Economia, Torino

Moneta e Credito, 2005, vol. 58, issue 230-231, 233-254

Abstract: The article examines the influence of the contributions of Modigliani on issues of finance. The preferred habitat theory, proposed to explain the term structure of interest rates, has been used by financial operators until the 80s. Then it was put aside as obsolete, but it seems that can again resume validity. The Modigliani-Miller theorem, the subject of many criticisms, it remains a pillar in the theory of finance. On the other hand, the thesis on the irrational underestimation of stock prices during periods of inflation has left quite indifferent financial operators. But many economists agree with the conclusion that markets can play hurt for a long time the task of directing resources towards more productive uses.

Keywords: Modigliani; finanza; habitat preferito; Modigliani; Miller (search for similar items in EconPapers)
JEL-codes: B22 E43 E44 G10 G30 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (1)

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