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This chapter is devoted to describe the new meaningful effects in capital structure theory, discovered within modern theory of capital cost and capital structure, created by Brusov, Filatova, and Orekhova (BFO theory). These qualitatively new effects are present in the general version of the BFO theory and absent in its perpetuity limit (Modigliani–Miller theory). BFO theory has changed some main existing principles of financial management. Discovered effects modify our understanding of financial management and dictate some unusual managerial decisions.

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New Meaningful Effects in Modern Capital Structure Theory

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  • 发表日期：

    2025年

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  • Peter Brusov,
  • Tatiana Filatova

摘要

This chapter is devoted to describe the new meaningful effects in capital structure theory, discovered within modern theory of capital cost and capital structure, created by Brusov, Filatova, and Orekhova (BFO theory). These qualitatively new effects are present in the general version of the BFO theory and absent in its perpetuity limit (Modigliani–Miller theory). BFO theory has changed some main existing principles of financial management. Discovered effects modify our understanding of financial management and dictate some unusual managerial decisions.