Stewart Myers

Stewart Myers is an influential figure in finance and economics, best known for his contributions to corporate finance theory. He co-developed the Modigliani-Miller theorem, which revolutionized our understanding of capital structure and the value of firms. This theorem suggests that under certain conditions, a company's financial decisions do not affect its overall value. Myers also introduced the "pecking order theory," which explains how companies prioritize their sources of financing. His work has shaped modern financial practices and is widely studied in academic and professional settings, making him a key figure in understanding financial strategy and corporate behavior.