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Business, 21.08.2021 03:30 justachelseafan

Modern capital structure theory began in 1958 when Professors Modigliani and Miller (MM) published a paper that proved under a restrictive set of assumptions that a firm's value is unaffected by its capital structure. By indicating the conditions under which capital structure is irrelevant, they provided clues about what is required to make capital structure relevant and impact a firm's value. In 1963 they wrote a paper that included the impact of corporate taxes on capital structure. With the

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Modern capital structure theory began in 1958 when Professors Modigliani and Miller (MM) published a...
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