Premium
The Modigliani–Miller proposition after fifty years and its relation to entrepreneurial finance
Author(s) -
mac an Bhaird Ciarán
Publication year - 2010
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/jsc.855
Subject(s) - miller , proposition , capital structure , economics , independence (probability theory) , relation (database) , classical economics , capital (architecture) , control (management) , empirical evidence , microeconomics , neoclassical economics , finance , management , debt , mathematics , history , philosophy , statistics , archaeology , epistemology , database , computer science , biology , ecology
Empirical evidence suggests that cost‐based considerations, firm‐specific characteristics, and owner‐specific factors — such as desire for control and managerial independence — are important determinants of capital structures of entrepreneurial firms.