We’ll send you a myFT Daily Digest email rounding up the latest US news every morning. The ferocity of the economic crisis has tossed a few cherished theorems into the dustbin – do people still ...

Jianying Qiu of the University of Vienna and colleagues tested the Modigliani-Miller theorem - the prediction that a company's capital structure shouldn't affect its value - by getting students to ...

According to the famous Modigliani-Miller theorem, under certain idealized conditions it doesn’t matter if firms pay dividends or not. One of those idealized conditions involves ignoring tax ...

It would appear so if the Reserve Bank of India's draft guidelines on the entry of new private banks is any indication. Indeed, an interesting conceptual issue thrown up by the draft guidelines is ...

In 1990, Miller, along with two other US economists shared the Nobel Prize "for their pioneering work in the theory of financial economics." Miller's contribution was the Modigliani-Miller theorem, ...

Applying the Modigliani – Miller Theorem of Capital Structure to Governments: In 1958 Merton Miller and Franco Modigliani published an article outlining the idea that in perfect capital markets the ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. But the logic of M-M cannot be dismissed so easily. And it also matters hugely why M-M might not exactly hold.