Do banks satisfy the Modigliani-Miller theorem?
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- Black, Fischer & Miller, Merton H & Posner, Richard A, 1978. "An Approach to the Regulation of Bank Holding Companies," The Journal of Business, University of Chicago Press, vol. 51(3), pages 379-412, July.
- Matthieu Brun & Henri Fraisse & David Thesmar, 2013. "The Real Effects of Bank Capital Requirements," Working Papers hal-02011435, HAL.
- Gilles Chemla & Antoine Faure Grimaud, 1996. "Dynamic adverse selection and debt," Economics Working Papers 196, Department of Economics and Business, Universitat Pompeu Fabra, revised Dec 1996.
- DeAngelo, Harry & Stulz, Rene M., 2013.
"Why High Leverage Is Optimal for Banks,"
Working Paper Series
2013-08, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- DeAngelo, Harry & Stulz, Rene M., 2013. "Why High Leverage Is Optimal for Banks," Working Papers 13-20, University of Pennsylvania, Wharton School, Weiss Center.
- Harry DeAngelo & René M. Stulz, 2013. "Why High Leverage is Optimal for Banks," NBER Working Papers 19139, National Bureau of Economic Research, Inc.
- Merton, Robert C., 1977. "An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory," Journal of Banking & Finance, Elsevier, vol. 1(1), pages 3-11, June.
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- Belinda Cheung & Sebastien Printant, 2019. "Australian Money Market Divergence: Arbitrage Opportunity or Illusion?," RBA Research Discussion Papers rdp2019-09, Reserve Bank of Australia.
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KeywordsModigliani-Miller; banks; leverage; regulation;
- G3 - Financial Economics - - Corporate Finance and Governance
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