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1、TheCostofCapital,CorporationFinanceandtheTheoryofInvestment-Modigliani&Miller,AER1958(MM定理)AmericanEconomicAssociationTheCostofCapital,CorporationFinanceandtheTheoryofInvestmentAuthor(s):FrancoModiglianiandMertonH.MillerSource:TheAmericanEconomicReview,Vol.48,No.3(Jun.,1958),pp.261-297Published
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6、UMEXLVIIIJUNE1958NUMBERTHREETHECOSTOFCAPITAL,CORPORATIONFINANCEANDTHETHEORYOFINVESTMIENTByFRANCOMODIGLIAN1ANDMERTONH.MILLER*Whatisthe;costofcapital;toafirminaworldinwhichfundsareusedtoacquireassetswhoseyieldsareuncertain;andinwhichcapitalcanbeobtainedbymanydifferentmedia,rangingfrompuredebtinstru-m
7、ents,representingmoney-fixedclaims,topureequityissues,givingholdersonlytherighttoapro-ratashareintheuncertainventure.?Thisquestionhasvexedatleastthreeclassesofeconomists:(1)thecor-porationfinancespecialistc