Selected Works of Merton H. Miller: A Celebration of Markets: Volume 1: Finance

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9780226527475: Selected Works of Merton H. Miller: A Celebration of Markets: Volume 1: Finance

Widely regarded as one of the founders of modern corporate finance, Merton H. Miller was awarded a Nobel Prize in 1990 for his work in the theory of finance and financial economics. Selected Works of Merton H. Miller gathers together in two volumes a selection of Miller's most influential contributions over more than fifty years of active research. A common theme running throughout both volumes is Miller's conviction about the utility of market-based approaches to topics as diverse as dividend policy, bank regulation, the structure of securities markets, and competition between research universities and teaching colleges.

Miller was perhaps best known for a series of highly influential papers he cowrote in the 1950s and 1960s with fellow Nobel laureate Franco Modigliani that advanced a set of capital structure theorems later dubbed the "M and M propositions." In brief, the M and M propositions state that the actions of investors, firms, and capital markets will cause the market value of a firm to be independent of its capital structure. In other words, a corporation's value depends on its investments in people, ideas, and physical capital goods and not on the mix of bonds, stocks, and other securities used to finance the investments. Four of these papers are reprinted here, together with important later work by Miller in macroeconomics, corporate capital structure, management science, asset pricing, and the economic and regulatory problems of the financial services industry.

Diverse and innovative, the papers in Selected Works of Merton H. Miller will interest students and practitioners of economics, finance, and business, as well as policymakers responsible for market regulation.

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In the late 1950s, Merton H. Miller collaborated with Franco Modigliani on a series of highly influential papers advancing a set of capital structure theorems later dubbed the "M and M propositions." By 1990, he was a Nobel Prize-winner, widely regarded as a pioneer in the theory of financial economics and one of the founders of modern corporate finance. The Selected Works of Merton H. Miller collects his most influential contributions over more than fifty years of active research, including four of the "M and M" papers as well as a diverse and innovative array of works on macroeconomics, corporate capital structure, management science, asset pricing, and the financial services industry.

This first volume of the Selected Works includes Miller's "classic" papers, as well as his work on corporate decision making and distribution policy in competitive markets. Both volumes are marked by Miller's belief in the utility of market-based approaches to topics as diverse as dividend policy, bank regulation, the structure of securities markets, and competition between research universities and teaching colleges, as well as by the dynamic range of equally notable economists with whom he chose to collaborate. Pioneering and essential, these volumes will prove invaluable to students and practitioners of economics, finance, and business, as well as to the policymakers responsible for market regulation.

About the Author:

Merton H. Miller (1923-2000) was the Robert H. McCormick Distinguished Service Professor Emeritus in the Graduate School of Business at the University of Chicago and the president of the American Finance Association. In 1990 he was awarded the Nobel Memorial Prize in Economic Sciences. He was the author or editor of a number of books, most recently Merton Miller on Derivatives and Financial Innovations and Market Volatility.

Bruce D. Grundy, a former student of Miller, is the Ian Potter Professor of Finance at Melbourne Business School. His research interests include corporate governance, derivatives pricing, real options, and the mutual fund industry. Prior to joining Melbourne Business School Bruce was a member of the faculty at the Wharton School and Stanford's GSB and a visiting faculty member at the National University of Singapore and the Johann Wolfgang Goethe-Universitat Frankfurt am Main.

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MILLER, Merton H.:
Editorial: Chicago & London: University of Chicago Press, 2002. (2002)
ISBN 10: 0226527476 ISBN 13: 9780226527475
Usado Tapa dura Primera edición Cantidad: 1
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Descripción Chicago & London: University of Chicago Press, 2002., 2002. First Editions. xxviii, 417 pp, xxix-xlviii; vii, 419-806 pp, x-xxviii. Original cloth. Review copies, fine in fine dust jackets. Merton H. Miller: Nobel Prize, Economics, 1990 (shared with Harry M. Markowitz and William F. Sharpe), "for their pioneering work in the theory of financial economics." Laureate Search Result There are 1 entries that match your criteria. Economic Sciences 1990 -MARKOWITZ, HARRY M. -MILLER, MERTON H. -SHARPE, WILLIAM F. "for their pioneering work in the theory of financial economics". Nº de ref. de la librería 08026

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