The fact that shareholders' expected returns rise with the level of debt does not run contrary to
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The fact that shareholders' expected returns rise with the level of debt does not run contrary to the approach taken by Modigliani and Miller.
Why?
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Related Book For 
Corporate Finance Theory And Practice
ISBN: 9781119841623
6th Edition
Authors: Pascal Quiry, Yann Le Fur, Pierre Vernimmen
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