On the irrelevance of financial policy under market incompleteness and trading constraints

DOI10.1016/J.ECONLET.2015.09.007zbMath1398.91500OpenAlexW1833544799MaRDI QIDQ1667892

Orhan Erem Atesagaoglu, Eva Cárceles-Poveda

Publication date: 31 August 2018

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2015.09.007

zbMATH Keywords

incomplete marketstrading constraintsfinancial policy

Mathematics Subject Classification ID

Portfolio theory (91G10)

Cites Work

• The risk-free rate in heterogeneous-agent incomplete-insurance economies
• An extension of the Modigliani-Miller theorem to stochastic economies with incomplete markets and interdependent securities
• An analysis of the conditions for the validity of Modigliani-Miller theorem with incomplete markets
• Rational Asset Pricing Bubbles

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