Modigliani and Miller (M&M)proposed a model in which,given certain restrictive assumptions,the capital structure of a firm does not impact the value of the firm.

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Modigliani and Miller (M&M) proposed the capital structure irrelevance proposition, which states that the value of a firm is not affected by its capital structure, under certain restrictive assumptions such as perfect capital markets and no taxes.

Modigliani and Miller (M&M)proposed a Model in Which,given Certain Restrictive