The Modigliani-Miller theorem is a key pillar in modern finance. The theorem has revolutionized corporate finance since it was introduced by the Professors Franco Modigliani and Merton Miller. In ...

The Modigliani-Miller theorem states that a company’s capital structure doesn’t affect its value in perfect markets. While this theory is one of the foundational theories on capital structure ...

Joseph E. Stiglitz, A Re-Examination of the Modigliani-Miller Theorem, The American Economic Review, Vol. 59, No. 5 (Dec., 1969), pp. 784-793 ...

Modigliani and Miller show that the total market value of a firm is unaffected by a repackaging of asset return streams to equity and debt if pricing is arbitrage-free. We investigate this invariance ...

Miller's contribution was the Modigliani-Miller theorem, which he developed with Franco Modigliani while both were professors at the Carnegie Institute of Technology. Read Professor Miller's Nobel ...