Abstract–Capital Structure and the Value of the Firm

Frederic H. Murphy, Aharon R. Ofer and Mark A. Satterthwaite

Journal of Financial and Quantitative Analysis, 1975, vol. 10, issue 4, 541-541

Abstract: In their 1958 article Modigliani and Miller showed that if two firms are in the same risk class and in an economy with a perfect capital market having no transaction costs, taxes, or no bankruptcy costs, then their relative market values are independent of their capital structures.

Date: 1975
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