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| Tekijä: | Ho, K. Robinson, C. |
| Otsikko: | The relevance of financial policy in perfect capital markets |
| Lehti: | International Review of Financial Analysis
1994 : VOL. 3:2, p. 97-112 |
| Asiasana: | FINANCIAL POLICY CAPITAL MARKETS FINANCE |
| Kieli: | eng |
| Tiivistelmä: | The story is told of what might lie down a road not taken by finance research. The moral of the story is that alternative assumptions can lead to new insights into finance, and researchers should walk down every road, not just those that earlier writers have travelled. Modigliani and Miller implicitly assumed that financial markets are complete. Then they went down the path of market imperfections to find relevance of financial policy. |
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