On Portfolio Analysis, Market Equilibrium and Corporation Finance with Incomplete Information.
International Journal of Business, 2005, Spring, 10, 2
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- 14,99 lei
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- 14,99 lei
Publisher Description
ABSTRACT This paper presents a new derivation of the Modigliani and Miller (1958, 1963, 1966) propositions using the simple model of capital market equilibrium with incomplete information presented in Merton (1987). The model is used to relate the maximization of stockholder expected utility to the selection of assets and to the financing and investment decisions within firms in a context of incomplete information. Expressions of the cost of capital are presented with and without corporate taxes in the presence of shadow costs of incomplete information.
GENRE
Business & Personal Finance
RELEASED
2005
22 March
LANGUAGE
EN
English
LENGTH
27
Pages
PUBLISHER
Premier Publishing, Inc.
SIZE
277.5
KB
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