莫迪尼亚尼-米勒定理 - 维基百科，自由的百科全书
莫迪尼亞尼-米勒定理（英語： Modigliani–Miller theorem ，简称MM定理），經濟學理論，由经济学家弗蘭科·莫迪利安尼和默顿·米勒提出，它是现代资本结构理论的基础。
MM定理(Modigliani-Miller)证明与图解 - 知乎 - 知乎专栏
\beta_{E}=\beta^{*}+\left(\beta^{*}-\beta_{D}\right) \frac{D}{E} \\ 从而杠杆将增加股权的系统性风险(即使债务无风险)。 进一步通过CAPM模型可以将股权收益分解为business risk premium和financial risk premium
Modigliani–Miller theorem - Wikipedia
Since the value of the firm depends neither on its dividend policy nor its decision to raise capital by issuing shares or selling debt, the Modigliani–Miller theorem is often called the capital structure irrelevance principle.
Teorema di Modigliani-Miller - Wikipedia
In finanza, il teorema di Modigliani-Miller (dagli economisti Franco Modigliani e Merton Miller che ne proposero la formulazione originale) costituisce la base della moderna teoria della struttura del capitale.
El teorema de Modigliani-Miller: definición, fórmula y ejemplos
2020年9月24日 · Primero, tomemos unos minutos para revisar lo que hemos aprendido sobre el teorema de Modigliani-Miller. El teorema fue creado por los premios Nobel Franco Modigliani y Merton Miller para facilitar el proceso de toma de decisiones.
Unlevered Beta / Asset Beta - Wall Street Oasis
2024年11月20日 · The Modigliani Miller Theorem hypothesizes that the value of a given company is both its present value of future cash flow and its assets. The value should exclude capital structure because it does not matter whether a company is financing via equity or debt.
The Modigliani-Miller Propositions - CFA, FRM, and
2021年5月15日 · Franco Modigliani and Merton Miller suggested the following assumptions for Proposition I: Investors have similar expectations regarding future cash flows. Bonds and stocks are traded in a perfect capital market.
Modigliani-Miller Theorem - FourWeekMBA
2023年11月20日 · The Modigliani-Miller Theorem is a fundamental proposition in corporate finance that addresses the question of how a firm’s value is affected by its capital structure, which is the mix of debt and equity used to finance its operations and investments.
The Modigliani - Miller Theorem4 tells us that if (Corporate Tax Rate) is zero, then the Debt Ratio (and capital structure) has no impact on the value of the firm, and hence no impact on the WACC.
M&M Theorem - Overview, Assumptions, Propositions
The theorem was developed by economists Franco Modigliani and Merton Miller in 1958. The main idea of the M&M theory is that the capital structure of a company does not affect its overall value.