作者:FISHER, ML; KEDIA, P
作者单位:Northeastern University
作者:ARGOTE, L; BECKMAN, SL; EPPLE, D
作者单位:University of California System; University of California Berkeley
作者:SICK, GA
摘要:This paper develops models for discount rates that are adjusted for the interest tax shields of an infra-marginal firm in a general tax equilibrium where there is cross-sectional variation in corporate tax rates. Under the assumption that the firm optimally maintains a predetermined debt ratio, a tax-adjusted riskless discount rate model is given for valuing certainty-equivalents and a tax-and-risk-adjusted discount rate model is given for valuing expected cash flows. For the latter case, the ...
作者:FERSHTMAN, C; MAHAJAN, V; MULLER, E
作者单位:University of Texas System; University of Texas Austin; Tel Aviv University
作者:RUEFLI, TW
作者单位:University of Texas System; University of Texas Austin