Graff, Richard A.; Kairys Jr., Joseph P. - Nationalekonomiska institutionen, Handelshögskolan - 2005
We examine a central result in corporate finance – the Modigliani-Miller capital structure irrelevance proposition – from a Coasian property rights perspective. Building upon the work of Coase, Demsetz and Cheung, we develop an enabling methodology to study the impact of positive Coasian...