CHANGES IN THE SUPPLY OF MONEY, THE FIRM'S MARKET VALUE AND COST OF CAPITAL

Authors

  • A. P. Budd,

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    • H.M. Treasury and Stanford University, respectively. Financial support for this study was provided in part by a grant from the Dean Witter Foundation. The helpful comments of the referee are gratefully acknowledged. The views expressed in this paper are the authors' and not necessarily those of the H. M. Treasury.
  • R. H. Litzenberger

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    • H.M. Treasury and Stanford University, respectively. Financial support for this study was provided in part by a grant from the Dean Witter Foundation. The helpful comments of the referee are gratefully acknowledged. The views expressed in this paper are the authors' and not necessarily those of the H. M. Treasury.

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