Número:
562
Publicado:
Clasificación JEL:
G32, G30, L25
Palabras clave:
Modigliani-Miller, risk management, hedging, firm value
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Classic financial theory relies on the absolute perfection of capital markets, which results in one of the milestones of theoretical corporate finance: the firm's value is invariant to the choice of capital structure. As an extension to the aforementioned