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Comment on the Modigliani-Miller Propositions

✍ Scribed by Stephen A. Ross


Book ID
125759863
Publisher
American Economic Association
Year
1988
Tongue
English
Weight
183 KB
Volume
2
Category
Article
ISSN
0895-3309

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## Abstract Empirical evidence suggests that cost‐based considerations, firm‐specific characteristics, and owner‐specific factors — such as desire for control and managerial independence — are important determinants of capital structures of entrepreneurial firms.