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Theoreme von Miller/Modigliani (1958/1961)

Theoreme von Miller/Modigliani (1958/1961)

          
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About the Book

Studienarbeit aus dem Jahr 2022 im Fachbereich BWL - Investition und Finanzierung, Note: 1,7, FOM Hochschule für Oekonomie & Management gemeinnützige GmbH, München früher Fachhochschule, Sprache: Deutsch, Abstract: Grundaussagen und der Realitätsbezug der traditionellen These und die der M&M-Theoreme. Im besonderen Fokus dieser Seminararbeit sind die Grundaussagen und der Realitätsbezug der traditionellen These und die der M&M-Theoreme. Ebenso soll auch die Modellmodifikation der Trade-off-Theorie erläutert werden. Viele Unternehmen stehen vor der zentralen Frage, welche Kapitalstruktur am sinnvollsten ist. Dabei soll das bestmögliche Verhältnis aus Eigenkapital und Fremdkapital die Risikosituation minimieren und den Unternehmenswert erhöhen. Ebenso soll auch die Liquidität als Zahlungsfähigkeit dauerhaft sichergestellt werden. Die traditionelle These behauptet, es gibt eine optimale Kapitalstruktur. Damit der optimale Verschuldungsgrad erreicht wird, soll teures Eigenkapital durch billiges Fremdkapital ausgetauscht werden. Die Eigenkapitalrentabilität erhöht sich dadurch, jedoch nur unter der Voraussetzung, dass die EK und FK-Geber bei zunehmender Verschuldung keine höheren Renditen verlangen. Typischerweise wird aber ab einem bestimmten Verschuldungsgrad das Risiko wahrgenommen und die Renditeforderungen steigen. Letztendlich ist der optimale Punkt erreicht, wenn der Risikoaufschlag unverändert bleibt, die Gesamtkapitalkosten auf ein Minimum gesenkt werden und dadurch der Marktwert steigt.


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Product Details
  • ISBN-13: 9783346642677
  • Publisher: Bod Third Party Titles
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 30
  • Spine Width: 2 mm
  • Width: 148 mm
  • ISBN-10: 3346642674
  • Publisher Date: 19 May 2022
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 50 gr


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