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 has myriad applications in business decision-making. The standard methodology for deriving cost of capital estimates is based on the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation), interactions...
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