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The Weighted Average Cost of Capital, Perfect Capital Markets, and Project Life: A Clarification

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Author Info
Miles, James A.
Ezzell, John R.
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Article provided by Cambridge University Press in its journal Journal of Financial and Quantitative Analysis.

Volume (Year): 15 (1980)
Issue (Month): 03 (September)
Pages: 719-730
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:cup:jfinqa:v:15:y:1980:i:03:p:719-730_00

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  1. Fernandez, Pablo, 2005. "The value of tax shields with a fixed book-value leverage ratio," IESE Research Papers D/612, IESE Business School. [Downloadable!]
  2. Fernandez, Pablo, 2007. "A more realistic valuation: APV and WACC with constant book leverage ratio," IESE Research Papers D/715, IESE Business School. [Downloadable!]
  3. Stewart C. Myers & Richard S. Ruback, 1987. "Discounting Rules for Risky Assets," NBER Working Papers 2219, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Fernández, Pablo, 1999. "Equivalence of the different discounted cash flow valuation methods. Different alternatives for determining the discounted value of tax shields and their implications for the valuation," IESE Research Papers D/400, IESE Business School. [Downloadable!]
  5. Emhjellen, Magne & Løvås, Kjell & Osmundsen, Petter, 2009. "LNG Project Valuation with Financial Leasing Contracts," UiS Working Papers in Economics and Finance 2009/15, University of Stavanger. [Downloadable!]
  6. Fernandez, Pablo, 2004. "Comments on "A reconsideration of tax shield valuation" by Enrique R. Arzac and Lawrence R. Glosten," IESE Research Papers D/578, IESE Business School. [Downloadable!]
  7. Fernandez, Pablo, 2005. "Financial literature about discounted cash flow valuation," IESE Research Papers D/606, IESE Business School. [Downloadable!]
  8. David F. Babbel & Craig Merrill, 1997. "Economic Valuation Models for Insurers," Center for Financial Institutions Working Papers 97-44, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]
  9. Myers, Stewart C. & Ruback, Richard S., 1954-, 1987. "Discounting rules for risky assets," Working papers 1853-87., Massachusetts Institute of Technology (MIT), Sloan School of Management. [Downloadable!]
  10. Fernandez, Pablo, 2006. "The correct value of tax shields: An analysis of 23 theories," IESE Research Papers D/628, IESE Business School. [Downloadable!]
  11. André Farber & Roland Gillet & Ariane Szafarz, 2007. "A General Formula for the WACC: A Reply," Working Papers CEB 07-004.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
    Other versions:
  12. Fernandez, Pablo, 2003. "Levered and unlevered Beta," IESE Research Papers D/488, IESE Business School. [Downloadable!]
  13. Fernández , Pablo, 2002. "Valuing companies by cash flow discounting: Ten methods and nine theories," IESE Research Papers D/451, IESE Business School. [Downloadable!]
  14. Fernandez, Pablo, 2003. "Equivalence of ten different methods for valuing companies by cash flow discounting," IESE Research Papers D/524, IESE Business School. [Downloadable!]
  15. Robert A. Taggart, Jr., 1989. "Consistent Valuation and Cost of Capital Expressions with Corporate and Personal TAxes," NBER Working Papers 3074, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  16. Fernandez, Pablo, 2004. "Reply to "The value of tax shields is equal to the present value of tax shields"," IESE Research Papers D/576, IESE Business School. [Downloadable!]
  17. Fernandez, Pablo, 2004. "Equivalence of ten different discounted cash flow valuation methods," IESE Research Papers D/549, IESE Business School. [Downloadable!]
  18. Cooper, Ian & Nyborg, Kjell G, 2008. "Tax-Adjusted Discount Rates with Investor Taxes and Risky Debt," CEPR Discussion Papers 6646, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
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