An extension of the Modigliani-Miller theorem to stochastic economies with incomplete markets and interdependent securities
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Publication:1105471
DOI10.1016/0022-0531(88)90275-XzbMath0648.90007OpenAlexW2099034678MaRDI QIDQ1105471
Publication date: 1988
Published in: Journal of Economic Theory (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1016/0022-0531(88)90275-x
incomplete marketsportfoliosperfect foresightshareholder votingequilibrium allocationscorporate financial policyModigliani-Miller theoremmultiperiod, stochastic economyvalue maximization
Related Items (7)
On the irrelevance of financial policy under market incompleteness and trading constraints ⋮ An introduction to general equilibrium with incomplete asset markets ⋮ Income taxation when markets are incomplete ⋮ A Stochastic Extension of the Miller‐Modigliani Framework1 ⋮ Production, bankruptcy, and financial policies under collateral constraints ⋮ An analysis of the conditions for the validity of Modigliani-Miller theorem with incomplete markets ⋮ Corporate financial hedging with proprietary information
Cites Work
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- Generic inefficiency of stock market equilibrium when markets are incomplete
- Mathematical analysis of the Miller-Modigliani theory
- Majority Voting and Corporate Control: The Rule of the Dominant Shareholder
- A Theory of Competitive Equilibrium in Stock Market Economies
- Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets
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