The Modigliani and Miller Propositions: The History of a Failed Foundation for Corporate Finance?
The Modigliani and Miller (MM) propositions provide a foundation for corporate finance theory. Nevertheless, this paper argues that their adoption has led to a disengagement of such theory from the humanity of business, as well as, more broadly, from concepts of corporate strategic management. As a...
| Publicado en: | Abacus Vol. 50; no. 3; pp. 279 - 296 |
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| Formato: | Artículo |
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Wiley-Blackwell
Sep2014
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=103449396&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 103449396 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00013072 AUB jtl: Abacus issn: 00013072 maglogo: Y pubinfo: dt: Sep2014 vid: 50 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 103449396 10.1111/abac.12030 ppf: 279 ppct: 17 formats: fmt: – @attributes: type: T – @attributes: type: P size: 369KB tig: atl: The Modigliani and Miller Propositions: The History of a Failed Foundation for Corporate Finance? aug: au: Dempsey, Mike affil: School of Economics, Finance and Marketing, RMIT University, Melbourne Australia su: Capital structure Corporate finance Strategic planning Dividends Investments sug: subj: Capital structure Corporate finance Strategic planning Dividends Investments keyword: Modigliani and Miller propositions ab: The Modigliani and Miller (MM) propositions provide a foundation for corporate finance theory. Nevertheless, this paper argues that their adoption has led to a disengagement of such theory from the humanity of business, as well as, more broadly, from concepts of corporate strategic management. As a result, the context within which textbooks allow corporate investment and financial decisions to take place is severely distorted from reality. The paper argues that we require the context of behavioural and strategic corporate management if we are to accommodate the reality of business, the behaviour of formalised groups, and an ethical dimension to business. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: Copyright of Abacus is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. item: Abacus holder: Wiley-Blackwell dt: @attributes: year: 2014 holdings: @attributes: islocal: N |
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