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The value of tax shields is NOT equal to the present value of tax shields Author info | Abstract | Publisher info | Download info | Related research | Statistics Fernandez, Pablo
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Article provided by Elsevier in its journal Journal of Financial Economics .
Volume (Year): 73 (2004)
Issue (Month): 1 (July)
Pages: 145-165
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Handle: RePEc:eee:jfinec:v:73:y:2004:i:1:p:145-165Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505576
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Miles, James A & Ezzell, John R, 1985.
" Reformulating Tax Shield Valuation: A Note ,"
Journal of Finance ,
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Kaplan, Steven N & Ruback, Richard S, 1995.
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Richard S Ruback, 2002.
"Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows ,"
Financial Management ,
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Robert A. Taggart & Jr., 1991.
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Myers, Stewart C, 1974.
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Miller, Merton H, 1977.
"Debt and Taxes ,"
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American Finance Association, vol. 32(2), pages 261-75, May.
[Downloadable!] (restricted)
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Fernandez, Pablo, 2005.
"The value of tax shields with a fixed book-value leverage ratio ,"
IESE Research Papers
D/612, IESE Business School.
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Cooper, Ian & Nyborg, Kjell G, 2005.
"The Value of Tax Shields IS Equal to the Present Value of Tax Shields ,"
CEPR Discussion Papers
5182, C.E.P.R. Discussion Papers.
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Other versions:
Cooper, Ian A. & Nyborg, Kjell G., 2005.
"The value of tax shields IS equal to the present value of tax shields ,"
Discussion Papers
2005/14, Department of Finance and Management Science, Norwegian School of Economics and Business Administration.
[Downloadable!] Cooper, Ian A. & Nyborg, Kjell G., 2006.
"The value of tax shields IS equal to the present value of tax shields ,"
Journal of Financial Economics ,
Elsevier, vol. 81(1), pages 215-225, July.
[Downloadable!] (restricted) André Farber & Roland Gillet & Ariane Szafarz, 2005.
"A general formula for the WACC ,"
Working Papers CEB
05-012.RS, Université Libre de Bruxelles, Solvay Business School, Centre Emile Bernheim (CEB).
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Fernandez, Pablo, 2007.
"A more realistic valuation: APV and WACC with constant book leverage ratio ,"
IESE Research Papers
D/715, IESE Business School.
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Ramesh Rao & Eric Stevens, 2006.
"The Firm's Cost of Capital, Its Effective Marginal Tax Rate, and the Value of the Government's Tax Claim ,"
Topics in Economic Analysis & Policy ,
Berkeley Electronic Press, vol. 6(1), pages 1465-1465.
[Downloadable!] (restricted)
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.
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Fernandez, Pablo, 2005.
"Financial literature about discounted cash flow valuation ,"
IESE Research Papers
D/606, IESE Business School.
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Fernandez, Pablo, 2004.
"80 common and uncommon errors in company valuation ,"
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"Valuing companies with a fixed book-value leverage ratio ,"
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Fernández, Pablo, 2002.
"Company valuation methods. The most common errors in valuations ,"
IESE Research Papers
D/449, IESE Business School.
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Fernandez, Pablo, 2006.
"The correct value of tax shields: An analysis of 23 theories ,"
IESE Research Papers
D/628, IESE Business School.
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Fernandez, Pablo, 2003.
"Levered and unlevered Beta ,"
IESE Research Papers
D/488, IESE Business School.
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Overesch, Michael & Voeller, Dennis, 2008.
"The Impact of Personal and Corporate Taxation on Capital Structure Choices ,"
ZEW Discussion Papers
08-020, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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Fernández , Pablo, 2002.
"Valuing companies by cash flow discounting: Ten methods and nine theories ,"
IESE Research Papers
D/451, IESE Business School.
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Fernandez, Pablo, 2003.
"Equivalence of ten different methods for valuing companies by cash flow discounting ,"
IESE Research Papers
D/524, IESE Business School.
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Fernandez, Pablo, 2005.
"Reply to "Comment on the value of tax shields is NOT equal to the present value of tax shields" ,"
IESE Research Papers
D/579, IESE Business School.
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"The value of tax shields depends only on the net increases of debt ,"
IESE Research Papers
D/613, IESE Business School.
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Fernandez, Pablo, 2004.
"Value of tax shields and the risk of the net increase of debt, The. Year 2004 ,"
IESE Research Papers
D/544, IESE Business School.
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Fernandez, Pablo, 2004.
"Reply to "The value of tax shields is equal to the present value of tax shields" ,"
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D/576, IESE Business School.
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Fernandez, Pablo, 2004.
"Equivalence of ten different discounted cash flow valuation methods ,"
IESE Research Papers
D/549, IESE Business School.
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Fernandez, Pablo, 2005.
"The value of tax shields is not equal to the present value of tax shields: A correction ,"
IESE Research Papers
D/581, IESE Business School.
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