Generalized Modigliani–Miller Theory

图书简介

The original theory of capital cost and capital structure put forward by Nobel Prize Winners Modigliani and Miller has since been modified by many authors, and this book discusses some of them. The book’s authors have created general theory of capital cost and capital structure – the Brusov–Filatova–Orekhova (BFO) theory, which generalizes the Modigliani–Miller theory to encompass companies of an arbitrary age (and arbitrary lifetime). Despite the availability of this more general theory, the classical Modigliani–Miller theory is still widely used in practice. In this book, the authors for the first time generalize it for cases of practical relevance: for the case of variable profit; for the case of advance tax-on-profit payments and interest on debt payments; for the case of several tax-on-profit and interest on debt payments per period; and for the combination of all three effects. These generalizations lead to valuable theoretical results as well as significantly widen of practical application this theory in practice and increase of the quality of finance management of the company. As well, the book investigates the applications of said results in corporate finance, investments, taxation and ratings, where employing a generalized Modigliani–Miller theory can be very fruitful.

Chapter 1. Introduction.- Part I. Modigliani–Miller Theory in Corporate Finance.- Chapter 2. Capital Structure: Modigliani–Miller Theory.- Chapter 3. Modern Theory of Capital Cost and Capital Structure: Brusov–Filatova–Orekhova Theory (BFO Theory).- Chapter 4. Optimal Capital Structure of the Company: Its Absence in Modigliani–Miller Theory with Risky Debt Capital.- Chapter 5. The Equity Cost in the Modigliani –Miller Theory.- Chapter 6. The Role of Taxing and Leverage in Evaluation of Capital Cost and Capitalization of the Company.- Chapter 7. Inflation in Modigliani – Miller Theory.- Chapter 8. Modification of the Modigliani–Miller Theory for the Case of Advance Tax on Profit Payments.- Chapter 9. The Modigliani–Miller Theory with Arbitrary Frequency of Payment of Tax on Profit.- Chapter 10. How Frequently Should Companies Pay Tax on Profit.- Chapter 11. Generalization of the Modigliani–Miller Theory for the Case of Variable Profit.- Part II. Applications of the Modigliani–Miller Theory in Investments.- Chapter 12. Investment Models with Debt Repayment at the End of the Project and Their Application.- Chapter 13. Investment Models with Uniform Debt Repayment and Their Application.- Chapter 14. Innovative Investment Models with Debt Repayment at the End of the Project.- Chapter 15. Investment Models with Advance Frequent Payments of Tax on Profit and of Interest on Debt.- Part III. Applications of the Modigliani–Miller Theory Ratings and Rating Methodologies.- Chapter 16. Application of the Modigliani–Miller Theory in Rating Methodology.- Chapter 17. Application of the Modigliani–Miller Theory, Modified for the Case of Advance Payments of Tax on Profit, in Rating Methodologies.- Chapter 18. A New Approach to Project Ratings.- Chapter 19. Conclusions.

Trade Policy 买家须知

关于产品：
● 正版保障：本网站隶属于中国国际图书贸易集团公司，确保所有图书都是100%正版。
● 环保纸张：进口图书大多使用的都是环保轻型张，颜色偏黄，重量比较轻。
● 毛边版：即书翻页的地方，故意做成了参差不齐的样子，一般为精装版，更具收藏价值。
关于退换货：
由于预订产品的特殊性，采购订单正式发订后，买方不得无故取消全部或部分产品的订购。
由于进口图书的特殊性，发生以下情况的，请直接拒收货物，由快递返回：
● 外包装破损/发错货/少发货/图书外观破损/图书配件不全（例如：光盘等）
并请在工作日通过电话400-008-1110联系我们。
签收后，如发生以下情况，请在签收后的5个工作日内联系客服办理退换货：
● 缺页/错页/错印/脱线
关于发货时间：
一般情况下：
●【现货】下单后48小时内由北京（库房）发出快递。
●【预订】【预售】下单后国外发货，到货时间预计5-8周左右，店铺默认中通快递，如需顺丰快递邮费到付。
● 需要开具发票的客户，发货时间可能在上述基础上再延后1-2个工作日（紧急发票需求，请联系010-68433105/3213）；
● 如遇其他特殊原因，对发货时间有影响的，我们会第一时间在网站公告，敬请留意。
关于到货时间：
由于进口图书入境入库后，都是委托第三方快递发货，所以我们只能保证在规定时间内发出，但无法为您保证确切的到货时间。
● 主要城市一般2-4天
● 偏远地区一般4-7天
关于接听咨询电话的时间：
010-68433105/3213正常接听咨询电话的时间为：周一至周五上午8：30～下午5：00，周六、日及法定节假日休息，将无法接听来电，敬请谅解。
其它时间您也可以通过邮件联系我们：customer@readgo.cn,工作日会优先处理。
关于快递：
● 已付款订单：主要由中通、宅急送负责派送，订单进度查询请拨打010-68433105/3213。

Generalized Modigliani–Miller Theory（Contributions to Finance and Accounting） 广义莫迪利亚尼-米勒理论：公司财务、投资、税收与评级应用 货币银行学

Generalized Modigliani–Miller Theory（Contributions to Finance and Accounting）

广义莫迪利亚尼-米勒理论：公司财务、投资、税收与评级应用
货币银行学