Capital Structure in The Real World
If capital structure is irrelevant in a perfect market, then imperfections which exist in the real world must be the cause of its relevance. The theories below try to address some of these imperfections, by relaxing assumptions made in the M&M model.
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Famous quotes containing the words capital, structure, real and/or world:
“Oh, a capital ship for an ocean trip,
Was the Walloping Window Blind;
No gale that blew dismayed her crew
Or troubled the captain’s mind.”
—Charles Edward Carryl (1841–1920)
“Science is intimately integrated with the whole social structure and cultural tradition. They mutually support one other—only in certain types of society can science flourish, and conversely without a continuous and healthy development and application of science such a society cannot function properly.”
—Talcott Parsons (1902–1979)
“To die proudly when it is no longer possible to live proudly. Death freely chosen, death at the right time, brightly and cheerfully accomplished amid children and witnesses: then a real farewell is still possible, as the one who is taking leave is still there; also a real estimate of what one has wished, drawing the sum of one’s life—all in opposition to the wretched and revolting comedy that Christianity has made of the hour of death.”
—Friedrich Nietzsche (1844–1900)
“The world is his, who has money to go over it.”
—Ralph Waldo Emerson (1803–1882)