In the 1930s Merton argued that money was the yardstick used to measure achievement. Merton Howard Miller was an American economist and he was the co-author of the Modi Gliani Miller theorem.
The theorem proposed the irrelevance of debt-equity structure. Miller's research focussed on corporate finance, economic and regulatory problems of the financial services industry.
The Miller Modi Gilani team collaborated and published this theorem in 1958. It explains that the mix of equity and debt used to finance a company is irrelevant to the firm's value.
He shared the noble memorial prize in economic sciences in the 1990s along with Harry Markowitz and William F. Sharpe.
To know more about Modi Gilani Miller theorem here:
https://brainly.com/question/14097242
#SPJ4
