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Julián Benavides Franco;
  • Publisher: Universidad ICESI
  • Journal: Estudios Gerenciales (issn: 0123-5923)
  • Publisher copyright policies & self-archiving
  • Subject: HF5001-6182 | Economía | Business | return on equity | Tasa de retorno | Flujo de caja | Costos de capital | Costo de capital | tasa de descuento sobre el patrimonio | Cost of capital | levered beta | tax shield value | Economics | Econometría | valor del escudo fiscal | Econometrics models | Producción intelectual registrada - Universidad Icesi | beta apalancado

One of the most important topics on valuation is the appropriate relationships between cash flows and rate of returns. I review those relationships under the premise, by Myers (1974), of the cost of debt as the right discount for the tax shield. Different hypotheses hav... View more
  • References (6)

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    Myers, Stewart C. 1974. Interactions of corporate financing qand investment decision-Implications for capital budgeting. The Journal of Finance 29, 1-25.

    Ross, Stephen A., Randolph W. Westerfield and Jeffery Jaffe. 1999. Corporate Finance, 5th Edition, Irwin McGraw-Hill

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