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| Tekijä: | Titman, S. |
| Otsikko: | The Modigliani and Miller theorem and the integration of financial markets |
| Lehti: | Financial Management
2002 : SPRING, VOL. 31:1, p. 101-115 |
| Asiasana: | Financial markets Integration Capital structure of companies |
| Kieli: | eng |
| Tiivistelmä: | The paper presents anecdotal evidence that suggests that financial markets often are not integrated and discusses the implications of this lack of integration on corporate financing strategies. In particular, the author argues that "market conditions", which are determined by the preferences of individuals and insitutions that supply capital, can have an important effect on how firms raise capital and the extent to which they hedge. |
SCIMA