Sentences with phrase «irrelevancy principle»

I have consistently been a critic of modern portfolio theory, the Modigliani and Miller capital structure irrelevancy principle, the capital asset pricing model and, the efficient market hypothesis.

These blind spots are distorted reflections of the perfect market assumptions underpinning the canonical theories of financial economics: modern portfolio theory; the Modigliani and Miller capital structure irrelevancy principle; the capital asset pricing model and, perhaps most importantly, the efficient market hypothesis.