Sabal, Jaime - In: Journal of Business Valuation and Economic Loss Analysis 2 (2008) 2, pp. 1-1
Miller and Modigliani's seminal papers (1958, 1963) gave rise to two alternative methodologies for project and firm valuations: the Weighted Average Cost of Capital (WACC) and Adjusted Present Value (APV). As is often the case of many larger firms in industrialized economies, whenever a target...