3 options
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 / Ramesh K.S. Rao, Eric C. Stevens.
- Format:
- Book
- Author/Creator:
- Rao, Ramesh K. S.
- Language:
- English
- Subjects (All):
- Corporations--Finance.
- Corporations.
- Capital costs.
- Corporate debt.
- Capital assets pricing model.
- Financial leverage.
- Physical Description:
- 1 online resource (105 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Hackensack, NJ : World Scientific, c2007.
- Language Note:
- English
- Summary:
- 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 between the borrowing rate and tax shields, and default considerations. It develops several new results and shows how better cost of capital and marginal tax rate estimates can be generated. The book's unified cost of capital theory is discussed with comprehensive numerical examples and graphical
- Contents:
- Introduction
- Model setting
- Distributional assumptions
- Model solution procedure
- Discussion of results
- Extension to s x s states
- Numerical illustration
- Conclusion.
- Notes:
- Description based upon print version of record.
- Includes bibliographical references (p. 85-88) and index.
- ISBN:
- 9786611120986
- 9781281120984
- 1281120987
- 9789812708373
- 9812708375
- OCLC:
- 476099645
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.