According to Modigliani and Miller (MM),in a world without corporate income taxes the use of debt has no effect on the firm's value.

Name: According to Modigliani and Miller (MM),in a world without corporate income taxes the use of debt has no effect on the firm's value.
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According to the Modigliani and Miller (MM) theory, when there are no corporate income taxes, the firm's value is independent of its capital structure. Therefore, the use of debt has no effect on the firm's value.

According to Modigliani and Miller (MM),in a World Without Corporate