CAPITAL STRUCTURE The capital-structure choice is one of the most important company financial decisions, and it has been the subject of much accounting and finance research. Modigliani and Miller (1958) were the first to investigate this topic. They provided evidence that capital structure is irrelevant to a company's worth. Five years later, the same authors modified the assumptions of the perfect market and included corporation taxes to their models (Modigliani and Miller, 1963). Consequently, they discovered that increasing a company's debt level enhances its worth. In light of the fact that interest paid is tax-deductible, enterprises who finance their operations with long-term debt would benefit from a debt tax shield. Modigliani and Miller (1963) failed to account for bankruptcy-related expenditures. Numerous academics were prompted by the results of Modigliani and Miller (1958, 1963) to investigate further the determinants of company capital-structure decisions. Prior until this point, there has been no consensus about the capital-structure argument. Consequently, it remains unclear what influences capital-structure decisions.

You are required to write research paper on the title What we know about organization capital structure theories: Review of Literature and future research agenda.