文档介绍：Chapter 6 Leverage Decisions 资料库下载 Four trade-off equilibriums Tax-bankruptcy cost equilibrium Tax equilibrium(Miller equilibrium) Tax-agency cost equilibrium Tax-agency cost-information asymmetry cost equilibrium START POINT: MM(1958) Irrelevance Theorem 资料库下载 Taxation System in USA Progressive taxation system for corporation e. Double taxation on dividends for personal e. 资料库下载 MM under e Tax(1963) 资料库下载 Assumption Definition of risk class 资料库下载 Effect of e Tax 资料库下载 Effect of e Tax on value of Securities Without Leverage 资料库下载 Effect of e Tax on value of Securities Bond Firm with Leverage 资料库下载 Equilibrium with Arbitrage If Yield on portfolio 1(without leverage) Alternative Portfolio(P2) 资料库下载 Equilibrium with Arbitrage Alternative Portfolio(P2) Yield on P2 资料库下载