Discontinuous financing based on market values and the value of tax shields
Abstract The tax shield as present value of debt-related tax savings plays an important role in firm valuation. Driving the risk of future debt levels, the firm’s strategy to adjust the absolute debt level to future changes of the firm value, labeled as (re-) financing policy, affects the value of t...
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| Principais autores: | , , |
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| Formato: | Artigo |
| Idioma: | Inglês |
| Publicado em: |
Springer
2017-10-01
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| coleção: | Business Research |
| Assuntos: | |
| Acesso em linha: | http://link.springer.com/article/10.1007/s40685-017-0053-z |
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