Record Details

A reappraisal of Modgliani's finance theories

PSL Quarterly Review

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Field Value
 
Title A reappraisal of Modgliani's finance theories
 
Creator Cozzi, Terenzio
 
Subject
Finance
B21, B22, B31, G00
 
Description The paper examines the influence of Modigliani's contributions to the theory of finance. As for the term structure of interest rates, the preferred habitat theory, had a mixed fortune: it was utilized by financial managers for a rather long time, before being discarded in the 1980s and, perhaps, being somewhat resumed in our days. The Modigliani-Miller theorem is considered as a landmark in finance theory, even if the controversies over both its assumptions and conclusions had indeed been very strong. By contrast, financial managers completely disregarded the thesis of an irrational undervaluation of stocks in inflationary periods. But most economists appreciate the proof that, for rather long periods, the market can be inefficient in channelling the resources towards the most productive utilizations.   JEL Codes: B21, B22, B31, G00Keywords: Finance
 
Publisher Economia civile
 
Contributor
 
Date 2012-04-19
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion

 
Format application/pdf
 
Identifier http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9855
 
Source PSL Quarterly Review; VOL 58, NN. 233-234 (2005)
PSL Quarterly Review; VOL 58, NN. 233-234 (2005)
2037-3643
ISSN 2037-3635
 
Language eng
 
Relation http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9855/9737
 
Rights Copyright (c) 2016 Terenzio Cozzi
http://creativecommons.org/licenses/by-nc-nd/4.0