Qiu, Jianying; Mahagaonkar, Prashanth - Universitätsbibliothek Wuppertal, University Library - 2009
In this paper, we directly test the Modigliani-Miller theorem in the lab. Applying a general equilibrium approach and not allowing for arbitrage among firms with different capital structures, we are able to address this issue without making any assumptions about individuals' risk attitudes and...
