1. Vgl. Uhrig-Homburg (2002, S. 28).
2. Bei Modigliani & Miller (1958, S. 274) liest man in Fußnote 18: “Once we relax the assumption that all bonds have certain yields,... there is the possibility that an otherwise sound concern might be forced into liquidation.... Since reorganization generally involves costs, and because the operation of the firm may be hampered during the period of reorganization with lasting unfavorable effects on earnings prospects, we might perhaps expect heavily levered companies to sell at a slight discount relative to less heavily indebted companies.”
3. Vgl. Robichek & Myers (1966, S. 19).
4. Vgl. Stiglitz (1969, S. 788) sowie Laitenberger & Lodowicks (2005).
5. Vgl. Tham & Wonder (2001, S. 14).