Mathematical Analysis of the Miller-Modigliani Theory

This paper provides a rigorous mathematical treatment of the problem of valuation of a firm in a deterministic, partial equilibrium framework. It is shown that the dividend and arbitrage approaches to valuation are not equivalent in general. A necessary and sufficient condition for their equivalence is also obtained

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Year of publication:	[2017]
Authors:	Sethi, Suresh
Other Persons:	Derzko, N. A. (contributor) ; Lehoczky, John P. (contributor)
Publisher:	[2017]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (5 p)
Type of publication:	Book / Working Paper
Notes:	In: Operations Research Letters, Vol. 1, Issue 4, pp. 148-152, September 1982
Classification:	G32 - Financing Policy; Capital and Ownership Structure ; G12 - Asset Pricing ; G31 - Capital Budgeting; Investment Policy ; G35 - Payout Policy ; D40 - Market Structure and Pricing. General ; D46 - Value Theory ; G1 - General Financial Markets
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012746812