瑞典皇家科学院10月16日宣布,将1990年度诺贝尔经济学奖授予三位美国经济学家:哈里·马科威茨、威廉·夏普和默顿·米勒。诺贝尔委员会认为,该三位美国教授在金融问题研究和企业金融理论方面取得了出色成就,“是金融经济学和企业金融理论的先驱”。他们的主要贡献是阐述了金融市场上公司证券如何定价和在某种证券投资上风险和收益如何平衡问题,解释了对风险和收益的评估以及税收变化或公司倒闭是怎样影响和决定证券价格的。由于现代经济活动中各部门的储蓄主要是通过金融市场转向公司投资的,因此,理论在今天具有 The Royal Swedish Academy of Sciences announced on October 16 the award of the 1990 Nobel Prize in Economics to three U.S. economists: Harry Markowitz, William Sharp and Merton Miller. The Nobel committee believes that the three American professors made outstanding achievements in the study of financial issues and the theory of corporate finance, “a pioneer in the theory of financial economics and corporate finance.” Their main contribution is to explain how the pricing of corporate securities in financial markets and how risks and returns are balanced over a portfolio of securities explain how the assessment of risk and return and how tax changes or corporate failures affect and determine the price of securities . Since the savings in various sectors of modern economic activity are mainly invested by the financial markets, the theory today has