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  4. Fall 1988
  5. The Modigliani-Miller Propositions after Thirty Years

Journal of Economic Perspectives

ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)

The Modigliani-Miller Propositions after Thirty Years

  • Merton H. Miller
Journal of Economic Perspectives
vol. 2, no. 4, Fall 1988
(pp. 99–120)
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Abstract

This issue of the Journal of Economic Perspectives appears on the 30th anniversary of the Modigliani-Miller propositions in "The Cost of Capital, Corporation Finance and the Theory of Investment," published in the American Economic Review, June 1958. The editors have invited me, if not to celebrate, at least to mark the event with a retrospective look at what we set out to do on that occasion and an appraisal of where the propositions stand today after three decades of intense scrutiny and often bitter controversy.

Citation

Miller, Merton H. 1988. "The Modigliani-Miller Propositions after Thirty Years." Journal of Economic Perspectives, 2 (4): 99–120. DOI: 10.1257/jep.2.4.99

JEL Classification

  • 521 Business Finance
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