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Consistent valuation and Cost of Capital Expressions With Corporate and Personal Taxes

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Cited by:

  1. 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.
  2. Benninga, Simon & Sarig, Oded, 2003. "Risk, returns, and values in the presence of differential taxation," Journal of Banking & Finance, Elsevier, vol. 27(6), pages 1123-1138, June.
  3. Fernandez, Pablo, 2005. "Financial literature about discounted cash flow valuation," IESE Research Papers D/606, IESE Business School.
  4. Löffler, Andreas, 2002. "Miles-Ezzell's WACC Approach Yields Arbitrage," Hannover Economic Papers (HEP) dp-248, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
  5. André Farber & Roland Gillet & Ariane Szafarz, 2007. "A general formula for the WACC: a reply," ULB Institutional Repository 2013/6061, ULB -- Universite Libre de Bruxelles.
  6. Dirk Beyer, 2018. "A matrix approach to valuation and performance measurement based on accounting information considering different financing policies," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 29(1), pages 37-61, March.
  7. Pierru, Axel, 2009. ""The weighted average cost of capital is not quite right": A rejoinder," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(4), pages 1481-1484, November.
  8. Gonzalez, Asa O. & Karali, Berna & Wetzstein, Michael E., 2012. "A public policy aid for bioenergy investment: Case study of failed plants," Energy Policy, Elsevier, vol. 51(C), pages 465-473.
  9. Nyborg, Kjell & Molnár, Peter, 2011. "Tax-Adjusted Discount Rates: A General Formula under Constant Leverage Ratios," CEPR Discussion Papers 8330, C.E.P.R. Discussion Papers.
  10. Eikseth, Hans Marius & Lindset, Snorre, 2009. "A note on capital asset pricing and heterogeneous taxes," Journal of Banking & Finance, Elsevier, vol. 33(3), pages 573-577, March.
  11. Ian A. Cooper & Kjell G. Nyborg, 2008. "Tax‐Adjusted Discount Rates with Investor Taxes and Risky Debt," Financial Management, Financial Management Association International, vol. 37(2), pages 365-379, June.
  12. Tyrone T. Lin & Shu-Yen Hsu & Chiao-Chen Chang, 2019. "Evaluation of Decision-Making for the Optimal Value of Sustainable Enterprise Development under Global 100 Index Thinking," Sustainability, MDPI, vol. 11(4), pages 1-21, February.
  13. Erlend Kvaal, 2007. "Discounting and the Treatment of Taxes in Impairment Reviews," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(5‐6), pages 767-791, June.
  14. Ignacio Vélez-Pareja & Rauf Ibragimov & Joseph Tham, 2008. "Constant Leverage And Constant Cost Of Capital: A Common Knowledge Half-Truth," Estudios Gerenciales, Universidad Icesi, June.
  15. Fernandez, Pablo, 2003. "Equivalence of ten different methods for valuing companies by cash flow discounting," IESE Research Papers D/524, IESE Business School.
  16. Mike Dempsey & Graham Partington, 2008. "Cost of capital equations under the Australian imputation tax system," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 48(3), pages 439-460, September.
  17. Ian Dobbs & Anthony Miller, 2002. "Capital budgeting, valuation and personal taxes," Accounting and Business Research, Taylor & Francis Journals, vol. 32(4), pages 227-243.
  18. Fernandez, Pablo, 2004. "The value of tax shields is NOT equal to the present value of tax shields," Journal of Financial Economics, Elsevier, vol. 73(1), pages 145-165, July.
  19. Jennergren, L. Peter, 1998. "A Tutorial on the Discounted Cash Flow Model for Valuation of Companies," SSE/EFI Working Paper Series in Business Administration 1, Stockholm School of Economics, revised 13 Dec 2011.
  20. Fernandez, Pablo, 2005. "Reply to "Comment on the value of tax shields is NOT equal to the present value of tax shields"," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(1), pages 188-192, February.
  21. Forsyth, Juan A., 2019. "An alternative formula for the constant growth model," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 24(48), pages 221-240.
  22. Kim-Duc, Nguyen & Nam, Pham Khanh, 2023. "Inflation-related tax distortions in business valuation models: A clarification," The North American Journal of Economics and Finance, Elsevier, vol. 66(C).
  23. Pasquale De Luca, 2017. "Debt Level and the Firm Levered Cost of Capital," International Journal of Economics and Financial Issues, Econjournals, vol. 7(5), pages 475-484.
  24. Frank Figge & Tobias Hahn, 2004. "Environmental Shareholder Value Matrix. Konzeption, Anwendung und Berechnung," Others 0408009, University Library of Munich, Germany.
  25. Jennergren, L. Peter & Skogsvik, Kenth, 2008. "The Abnormal Earnings Growth Model, Two Exogenous Interest Rates, and Company Taxes," SSE/EFI Working Paper Series in Business Administration 2008:9, Stockholm School of Economics, revised 10 Mar 2009.
  26. Ralf Diedrich & Stefan Dierkes & Hans-Christian Gröger, 2022. "A note on the cost of capital with fixed payout ratios," Review of Quantitative Finance and Accounting, Springer, vol. 59(4), pages 1559-1575, November.
  27. Fernández, Pablo, 1995. "Equivalence of the APV, WACC and flows to equity approaches to firm valuation," IESE Research Papers D/292, IESE Business School.
  28. Sarmiento-Sabogal, Julio & Sadeghi, Mehdi, 2014. "Unlevered betas and the cost of equity capital: An empirical approach," The North American Journal of Economics and Finance, Elsevier, vol. 30(C), pages 90-105.
  29. 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.
  30. Ignacio Velez-Pareja & Julian Benavides Franco, 2011. "Cost of Capital when Dividends are Deductible," Brazilian Review of Finance, Brazilian Society of Finance, vol. 9(3), pages 309-334.
  31. 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.
  32. Fernandez, Pablo, 2004. "Equivalence of ten different discounted cash flow valuation methods," IESE Research Papers D/549, IESE Business School.
  33. Fernandez, Pablo, 2007. "A more realistic valuation: APV and WACC with constant book leverage ratio," IESE Research Papers D/715, IESE Business School.
  34. Fernandez, Pablo, 2003. "Levered and unlevered Beta," IESE Research Papers D/488, IESE Business School.
  35. Pierru, Axel & Babusiaux, Denis, 2010. "WACC and free cash flows: A simple adjustment for capitalized interest costs," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(2), pages 240-243, May.
  36. Athanasios Vazakidis & Stergios Athianos, 2010. "Measuring Investors' Reaction to the Adoption of International Financial Reporting Standards in Greece, Using a Market-Based Model," American Journal of Economics and Business Administration, Science Publications, vol. 2(1), pages 103-112, March.
  37. 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.
  38. Peter Molnár & Kjell G. Nyborg, 2013. "Tax†adjusted Discount Rates: a General Formula under Constant Leverage Ratios," European Financial Management, European Financial Management Association, vol. 19(3), pages 419-428, June.
  39. Sheen X. Liu & Howard Qi & Chunchi Wu, 2006. "Personal Taxes, Endogenous Default, and Corporate Bond Yield Spreads," Management Science, INFORMS, vol. 52(6), pages 939-954, June.
  40. Michael Dempsey, 2015. "Stock Markets, Investments and Corporate Behavior:A Conceptual Framework of Understanding," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number p1007, December.
  41. Mike Dempsey, 2013. "Consistent Cash Flow Valuation with Tax†Deductible Debt: a Clarification," European Financial Management, European Financial Management Association, vol. 19(4), pages 830-836, September.
  42. Michael Dempsey, 2019. "Discounting methods and personal taxes," European Financial Management, European Financial Management Association, vol. 25(2), pages 310-324, March.
  43. Denis Babusiaux & Axel Pierru, 2009. "Investment project valuation : A new equity perspective," Working Papers hal-02469464, HAL.
  44. Fernandez, Pablo, 2006. "The correct value of tax shields: An analysis of 23 theories," IESE Research Papers D/628, IESE Business School.
  45. Ronald W. Spahr & Pankaj K. Jain & Fariz Huseynov & Bhavik Rajesh Parikh, 2012. "Tax policy and macro-finance in a competitive global economy where government is considered as firms' third financial stakeholder," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 14(1/2), pages 30-66.
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