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The Modigliani–Miller theorem (of Franco Modigliani, Merton Miller) is an influential element of economic theory; it forms the basis for modern thinking on capital structure. [1] The basic theorem states that in the absence of taxes , bankruptcy costs, agency costs , and asymmetric information , and in an efficient market , the enterprise ...
Merton Howard Miller (May 16, 1923 – June 3, 2000) was an American economist, and the co-author of the Modigliani–Miller theorem (1958), which proposed the irrelevance of debt-equity structure. He shared the Nobel Memorial Prize in Economic Sciences in 1990, along with Harry Markowitz and William F. Sharpe .
In his paper from 2002, Charles C. Holt describes how a young but very distinguished-to-be group of economists (himself, Franco Modigliani, John Muth and Herbert A. Simon) came together at the Graduate School of Industrial Administration (GSIA) at Carnegie Mellon University in the 1950s and set out to develop quantitative and computerized decision methods for business and industry.
The rational expectations hypothesis is considered by economists [11] to originate in the [12] paper written by Modigliani and Emile Grunberg in 1954. [13] [14] When he was a member of the Carnegie Mellon University faculty, he formulated in 1958, along with Merton Miller, the Modigliani–Miller theorem for corporate finance.
The 1961-62 Corvair station wagons even utilized a roofline similar to that on the 1961-63 Y-body wagons. Chevrolet's front-engine compact, introduced as the Chevy II for 1962 had some dimensions similar to the Y-body cars, but had a two-inch shorter wheelbase, was smaller in length and width and utilized a distinct X-body platform which ...
The 1955 show dates were New York (January 20–25), Miami (February 5–13), Los Angeles (March 5–13), San Francisco (March 26 to April 3), Boston (April 23 to May 1). Exhibited at these venues were the Buick Wildcat III, Chevrolet Biscayne, Pontiac Strato Star, Oldsmobile 88 Delta, LaSalle II roadster and sedan, and Cadillac Eldorado Brougham.
Chevrolet made camper kits as a dealer-installed package for the Greenbrier vans. These included a bed that covered the rear-mounted engine as well as various kitchen, cabinet, and table layouts that changed by model year. [4] An example was the 1961 kit for $485. [4] A Corvair 95 truck was available as a "Loadside" or "Rampside".
The Sebring 12-Hour Florida International Grand Prix of Endurance for the Alitalia Group took place on 25 March 1961, on the Sebring International Raceway, (Florida, United States). It was the opening round of the F.I.A. World Sports Car Championship. This was also the second round of the F.I.A. GT Cup.