Asset Selection with Changing Capital Structure

Edwin J. Elton; Martin J. Gruber

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Journal of Financial...arrow_drop_down

Journal of Financial and Quantitative Analysis

Article . 1973 . Peer-reviewed

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https://dx.doi.org/10.2307/232...

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Asset Selection with Changing Capital Structure

descriptionPublicationkeyboard_double_arrow_right Article 01 Jun 1973Publisher:JSTORJournal:The Journal of Financial and Quantitative Analysis, volume 8, page 459 (issn: 0022-1090,

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Authors: Edwin J. Elton; Martin J. Gruber;

doi: 10.2307/2329645

Asset Selection with Changing Capital Structure

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Abstract

One of the major problems in finance is that of combining the separate costs of debt and equity into an appropriate cutoff rate for new investment; this problem is particularly acute when the firm is changing its capital structure. Solutions to this problem which have been proposed include various types of both marginal costing and average costing.

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