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Comment on "The value of tax shields is NOT equal to the present value of tax shields"
Fieten, Paul; Kruschwitz, Lutz; Laitenberger, Jörg; … - 2004
Fernandez [2004; The value of tax shields is NOT equal to the present value of tax shields. Journalof Financial Economics, 73, 145–165] claims to derive a formula for the valuation of debt tax shieldsfor firms with cash flows that growperpetually at a constant rate.We showthat his formula is...
Persistent link: https://www.econbiz.de/10005857387
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Comment on #x0201;The value of tax shields is NOT equal to the present value of tax shields#x0201;
Fieten, Paul; Kruschwitz, Lutz; Laitenberger, Jörg; … - In: The quarterly review of economics and finance : journal … 45 (2005) 1, pp. 184-187
Persistent link: https://www.econbiz.de/10007636470