This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window
Open in New Tab
Open in same window
Journal of Economic Perspectives: Vol. 2 No. 4 (Fall 1988)
JEP Volume. 2, Issue 4 | 
Previous ArticleNext Article
Sign up for Email Alerts Follow us on Twitter
Full-text Article (Complimentary)
View Comments on This Article (0) | Login to post a comment
Previous ArticleNext Article
Expand
Quick Tools:
Print Article Summary Email Link to this Article Export CitationSign up for Email Alerts Follow us on Twitter
Explore:
Corporate Finance and the Legacy of Miller and Modigliani
Article Citation
Bhattacharya, Sudipto. 1988. "Corporate Finance and the Legacy of Miller and Modigliani."
Journal of Economic Perspectives,
2(4): 135-147.
DOI: 10.1257/jep.2.4.135
DOI: 10.1257/jep.2.4.135
Abstract
[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.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Bhattacharya, Sudipto (Unlisted)
JEL Classifications
521: Business Finance
Comments
View Comments on This Article (0) | Login to post a comment
