Corporate Finance and the Legacy of Miller and Modigliani
Bibliographic Data
| ID | 4029461 |
|---|---|
| Authors | Sudipto Bhattacharya (0000-0002-4880-1718, University of Michigan, corresponding author) |
| Year | 1988 |
| Volume | 2 |
| Issue | 4 |
| Pages | 135-147 |
| Publication date | 1988-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.2.4.135 |
| OpenAlex | W2098072109 |
| Language | EN |
| References cited | 25 |
This is a comment on "The Modigliani-Miller Propositions after Thirty Years" by Merton H. Miller in this same issue.] The influence of the Modigliani-Miller (1958) propositions on capital structure and the Miller-Modigliani (1961) theses on dividend policy permeates almost all aspects of financial economics to this day. In this commentary, I shall focus on the influence of Miller's and Modigliani's contributions on a couple of key areas in corporation finance, and review research progress by later contributors. Broadly speaking, these two themes can be summarized as: (A) integrated tax- and information-related considerations in capital structure and dividend policy choices; and (B) the impact of inflation and nominally denominated debt contracts on the valuation of corporate equity
Capital structure · Corporate Finance · Corporation · Debt · Dividend · Dividend policy · Economics · Financial economics · Miller · Neoclassical economics · Political science · Corporate Finance and Governance · Financial Markets and Investment Strategies · Financial Reporting and Valuation Research · Law · Finance
| Citation velocity | historical |
|---|---|
| Highly cited | No |