I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find any obvious patterns in the data, but we couldn't see any.
More Quotes from Merton Miller:
For me, as an economist, it was frustrating to have no sense of a theory of corporate finance to tie all this material together.Merton Miller
As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports.
Merton Miller
What happened after publication of our paper was that, for the next 40 years, people said, all right, we now know the answer to the capital structure question under ideal conditions.
Merton Miller
To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
Merton Miller
Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer.
Merton Miller
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Based on Topics: Capital QuotesBased on Keywords: empirical
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