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A theory of the firm's cost of capital : how debt affects the firm's risk, value, tax rate, and the government's tax claim /
The cost of capital concept is widely used in business decision-making. The current theory and estimates for measurement of cost of capital are derived from the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation) and default c...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Hackensack, New Jersey :
World Scientific,
[2007]
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | The cost of capital concept is widely used in business decision-making. The current theory and estimates for measurement of cost of capital are derived from the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation) and default considerations. It develops several new results and shows how better cost of capital and marginal tax rate estimates can be generated. The unified cost of capital theory presented in the book is illustrated graphically and with comprehensive numerical examples. This book will be of great interest to practicing managers, academics, governmental agencies and private companies that generate cost of capital estimates for public consumption. |
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| Notas: | Title from e-book title screen (viewed February 27, 2008). |
| Descripción Física: | 1 online resource (xiv, 88 pages) : illustrations |
| Bibliografía: | Includes bibliographical references (pages 85-88) and index. |
| ISBN: | 9812708375 9789812708373 1281120987 9781281120984 |