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Generalized Modigliani–Miller Theory - Applications in Corporate Finance, Investments, Taxation and Ratings (1st ed. 2022)
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Generalized Modigliani–Miller Theory - Applications in Corporate Finance, Investments, Taxation and Ratings (1st ed. 2022)
Series: Contributions to Finance and Accounting
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The original theory of capital cost and capital structure put
forward by Nobel Prize Winners Modigliani and Miller has since been
modified by many authors, and this book discusses some of them. The
book’s authors have created general theory of capital cost and
capital structure – the Brusov–Filatova–Orekhova (BFO)
theory, which generalizes the Modigliani–Miller theory to
encompass companies of an arbitrary age (and arbitrary lifetime).
Despite the availability of this more general theory, the classical
Modigliani–Miller theory is still widely used in practice. In
this book, the authors for the first time generalize it for cases
of practical relevance: for the case of variable profit; for the
case of advance tax-on-profit payments and interest on debt
payments; for the case of several tax-on-profit and interest on
debt payments per period; and for the combination of all three
effects. These generalizations lead to valuable theoretical results
as well as significantly widen of practical application this theory
in practice and increase of the quality of finance management of
the company. As well, the book investigates the applications of
said results in corporate finance, investments, taxation and
ratings, where employing a generalized Modigliani–Miller theory
can be very fruitful.
General
Imprint: |
Springer Nature Switzerland AG
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Country of origin: |
Switzerland |
Series: |
Contributions to Finance and Accounting |
Release date: |
March 2023 |
First published: |
2022 |
Authors: |
Peter Brusov
• Tatiana Filatova
• Natali Orekhova
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Dimensions: |
235 x 155mm (L x W) |
Pages: |
362 |
Edition: |
1st ed. 2022 |
ISBN-13: |
978-3-03-093895-6 |
Categories: |
Books
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LSN: |
3-03-093895-6 |
Barcode: |
9783030938956 |
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