Name: Franco Modigliani.
Country: Italy, United States.
Date of Birth: June 18, 1918.
Died: September 25, 2003.
Education: The New School (Ph.D.), Sapienza University of Rome (Laurea).
Subjects Of Study: Financial market life-cycle theory stock value.
Popularly Known: Developing The Modigliani-Miller Theorem of corporate finance.
Profession: Economist, and professor at the University of Illinois at Urbana–Champaign, Carnegie Mellon University, and MIT Sloan School of Management.
Noble Prize Year: Nobel Prize for Peace in 1985, for his pioneering analyses of saving and financial markets.
The Economic Sciences Prize was given to Franco Modigliani in recognition of his important research in several fields of economic theory with real-world implications. One of these was his analysis of personal savings, known as the life-cycle theory, which was effective in predicting the long-term implications of various pension systems. Along with economist Merton H. Miller, he conducted important research on financial markets. They demonstrated that, under specific conditions, the debt-to-equity ratio has no bearing on a company’s value.
