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The World of Modigliani and Miller
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Financial analysis has never been an exact science. Occasionally, the theoretical models upon which it is based are even “bad” science. The root cause is that economic decisions undertaken in a real world of uncertainty are invariably characterised by hypothetical human behaviour, for which there is little empirical evidence. Thus, a financial model may satisfy a fundamental requirement of all theory construction. It is based on logical reasoning. But if the objectives are too divorced from reality, or underpinned by simplifying assumptions that rationalise complex phenomena, the analytical conclusions may be invalid.
Robert Alan Hill - Personal Name
1st Edtion
978-87-403-1062-7
NONE
The World of Modigliani and Miller
Management
English
Robert Alan Hill
2015
1-139
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