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- 2011-7-11
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Modigliani and Miller Proposition I and II
Am I summarizing this correctly?
MM without taxes:
I: capital structure is irrelevent because
II: as cost of equity goes down, cost of debt goes up, and vice versa
MM with taxes:
I: There is an optimal capital structure because
II: interest is tax deductible |
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发表于 2011-7-13 15:25
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