Corporate Financial Theory Under Uncertainty
Open Access
- 1 August 1970
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 84 (3) , 451-471
- https://doi.org/10.2307/1879429
Abstract
I. Debt versus equity financing, 452: Investor portfolio choice, 454; Fundamental leverage theorem, 456; Leverage as an externality 456; Effect of no default risk: the “homemade leverage theorem,” 457; Corporate management and the capital markets, 458; Corporate capital budgets as a “public good,” 460. — II. The corporate investor: long-, margin-, and short-risk positions, 462. — Appendix: option financing, 467.Keywords
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