WACC Approach and Nonconstant Leverage Ratio

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 01 Jan 1998 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Andreas Löffler;

doi: 10.2139/ssrn.60937

WACC Approach and Nonconstant Leverage Ratio

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Abstract

Generalizing a result of Miles and Ezzel (1980) we extend the WACC approach to the case of nonconstant leverage ratios. Furthermore, it is shown that the original proof of Miles and Ezzel was incomplete.

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Freie Universität Berlin
Germany

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