Latest Nobel for Economics (or Noble Finance?): a glimpse
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The Noble prize for economics in 1990 was shared by three U.S scholars for their contributions to the discipline of corporate finance in the closely related areas of portfolio theory (Harry Markowitz) capital market theory (William F. Sharpe) and the effect of capital structure on market valuation (Merton H.Miller). The most prominent feature shared by the three models is the critical role played by the risk factor in determining the value of financial assets. A glimpse of their contributions.