Babusiaux, Denis; Pierru, Axel - In: Revue économique 52 (2001) 3, pp. 717-727
The starting point of this article deals with an applied problem of capital budgeting that a firm whose projects are subject to various tax rates (as is often the case in the oil industry) may encounter: how to value a project partly financed by borrowing and subject to a different tax rate from...
