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Intermediate Financial Theory, 3rd Edition by John B. Donaldson, Jean-Pierre Danthine

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Chapter 17

Financial Structure and Firm Valuation in Incomplete Markets

Chapter 17 focuses on corporate financial structure, and, in particular, the sorts of securities a firm ought to issue in order to maximize its value or maximize its growth rate in environments where financial markets are incomplete.

Keywords

Modigliani–Miller Theorem; Arrow–Debreu setting; FOCs; post-trade allocation; market incompleteness; financial structure

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