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Keywords: Coase theorem
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Journal Articles
Journal of Law, Finance and Accounting (2025) 8 (2): 143–163.
Published: 17 February 2025
...Varouj A. Aivazian; Jeffrey L. Callen We argue that the Modigliani and Miller (1958 , 1961 , 1963 ) Irrelevance Theorems are subsumed by the Coase Theorem ( Coase, 1960 ). We employ the Coase Theorem to critique two fundamental results in the corporate finance literature. Specifically, we reject...

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