Irrelevance result

The Modigliani and Miller theorem that a firm's capital structure is irrelevant to the firm's value.

Irrelevance Result

An economic theory stating that the performance of a firm's investments has no relation to how they are financed, whether stock, debt, or cash. The irrelevance result postulates that the quality of the investment, rather than the financing behind it, is the relevant question for a firm. It is part of the Modigliani-Miller theorem. See also: Fisher's Separation Theorem.

单词	irrelevance result
释义	Irrelevance result Irrelevance result The Modigliani and Miller theorem that a firm's capital structure is irrelevant to the firm's value. Irrelevance Result An economic theory stating that the performance of a firm's investments has no relation to how they are financed, whether stock, debt, or cash. The irrelevance result postulates that the quality of the investment, rather than the financing behind it, is the relevant question for a firm. It is part of the Modigliani-Miller theorem. See also: Fisher's Separation Theorem.
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