Kopecky, Kenneth J.; Li, Zhichuan; Sugrue, Timothy F.; … - In: International Journal of Financial Studies : open … 6 (2018) 1, pp. 1-12
Modigliani and Miller present an equity-quantity shifting equilibrating process to achieve an optimal firm value in the presence of corporate taxes. However, in the era in which they derived their various propositions regarding the relation between a firm’s value and its capital structure,...
