Modigliani and Miller (1958) provided a new theory of capital structure, suggesting that a firm’s choice between debt and equity has no impact on the firm’s value. This became known as irrelevance theorem. However, this theory is surrounded by a number of assumptions that can be analyzed in turn. The first assumption from Modigliani and Miller (1958) is that firms operate within a perfect capital market. The perfect capital market is defined by Fabozzi, Neave and Zhou (2012, p 87). Firstly,…
To the best of our knowledge, humans are the only creatures on earth that are able to contemplate infinity. We commonly talk about the infinite universe (which cosmologists now tell us is almost certainly finite but unbounded), we speak of infinite number series, such as the set of even numbers, and we use it metaphorically, as in saying someone has “infinite patience.” Time itself is spoken of as infinite, though it is always tied to finite objects which are changing and we can 't even come…
to the school library, I’m on the lookout for a small, confused freshman. I find him, and sit at his table. “How did your Geometry test go,” I find myself inquiring, with a hopeful interest, “Did you remember what I told you about the Pythagorean Theorem?” This isn’t my first time in this arena. Since seventh grade, I’ve been a tutor. It started when I could choose whether I wanted to tutor local elementary school students every day or take Spanish. As a seventh grader, the excitement about…
The derivation of maximum power transfer theorem for purely resistive DC circuits. V_L= E x R_L/(R_L+r) P_L= 〖V_L〗^2/R_L = (E^2 〖R_L〗^2/〖(R_L+r)〗^2 )/R_L = (E^2 R_L)/〖(R_L+r)〗^2 Calculating the most favourable value of the load resistor for maximum power transfer from a DC source with a internal resistance. When any arbitrary load resistance may be selected. Let R_L= kr ( k is a positive number) P_L= kr/〖(kr+r)〗^2 E^2= k/〖(k+1)〗^2 E^2/r f = k/〖(k+1)〗^2 = 1/(k+2+k^(-1) )…
him develop his Theorem. When they first meet, Colin thinks Lindsey is beneath him because of how she looks and what she is doing. “Colin was trying to think whether a worthwhile soul in all of human history had ever read a single copy of Celebrity Living” (30). Colin is suffering from a case of stereotyping. He is judging Lindsey before even knowing her. Little does he know that if he had continued judging her and hadn’t gotten to know her, he never would’ve finished his Theorem. “He went…
discovery of multiple theorems. His theorems are still used today, but instead of using dots, they now use equations to express these theorems. His most popular theorem is the Pythagorean Theorem, stating that in a right triangle, the square of the length of the triangle's longest side equals the sum of the squares of the lengths of the two shortest sides. The Pythagorean Theorem is written as a2+b2= c2. Although it is known for a fact that Pythagoras did not create this theorem, he is credited…
Pythagoras theorem which has been beneficial to fields like astronomy and mathematics. Other contributions from the Greeks includes geometry that finds applications in areas such as architecture as well as computer imaging and the calculation of the earths circumference and its…
significance of this result was that as variances are non-negative, natural selection can only have an improving effect on fitness. Fisher (1930) represented the fundamental theorem as an explanation for the idea that individuals will adopt themselves to maximize their fitness (Grafen, 2002). Usually, the fundamental theorem is not concerned with total evolutionary changes that develop due to fitness rather explain only the action of natural selection (Price, 1972b). Non-selective change in…
Pythagoras was most likely one of the most influential mathematicians that helped shape the way that people see shapes today. Through his experiences within his childhood and his practices through adulthood, he helped reform math through the “Pythagorean Theorem”. Through childhood, Pythagoras was born to a merchant (by the name of Mnesarchus) who happened to be from Tyre. Pythagoras studied under a diversity of teachers as a child. He was born in Eastern Aegon of Samos, Greece, a place where…
was a “quantifiably reliable way to make people bored”, and could truly test the Scarce Capacity Theorem (Dubner, 2015). With the turning the pegs tasks, Markey made several variations to see their effects on boredom and see what would possibly reduce boredom (Dubner, 201). Of these variations, such as adding incentives, or making it more interesting, none of them could prove the Scarce Capacity Theorem. However, this does not mean that the Scarce Capacity Theory cannot prove boredom, they just…