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Risky Tax Shields and Risky Debt : A Monte Carlo Approach
Velez-Pareja, Ignacio - 2010
I identify three sources of risk for the tax shields: two of them associated to the risk of debt and one associated to … the operating risk. I present a set of conditions for defining risky debt associated to cash flow and not to accounting … risk of tax shields is Ku, the unlevered cost of equity …
Persistent link: https://www.econbiz.de/10013141867
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Risky Tax Shields : An Exploratory Study
Velez-Pareja, Ignacio - 2013
This article (1) identifies three sources of risk for tax shields (TS): Two of them are associated with debt risk and … one is associated with operating risk. (2) A set of conditions for defining risky debt associated with cash flow, not with … suggests that it is not reasonable to define the risk of TS as measured by a single discount rate, but rather as a mix of debt …
Persistent link: https://www.econbiz.de/10013094155
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Mejora de la Medición del Desempeño con el vea (EVA) Operativo Y Total (Sharpening Performance Measurement with the Operating and Total EVA)
Ibragimov, Rauf - 2013
concurrently with the two metrics, the Operating EVA and the Total EVA. Operating EVA is calculated by applying the risk of assets …
Persistent link: https://www.econbiz.de/10013084110
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VAIC : New Financial Performance Metric and Valuation Tool
Ibragimov, Rauf - 2013
standard discounted cash flow approach; this equivalence is formally proved under certain assumptions regarding the risk of tax …
Persistent link: https://www.econbiz.de/10013091020
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EVA Performance Measurement is Faulty : So You May Be Persuaded to Switch to a Robust OEVA-TEVA Alternative
Ibragimov, Rauf - 2019
and total performance with the two nested metrics, Operating EVA (OEVA) and Total EVA (TEVA). OEVA applies the risk of …
Persistent link: https://www.econbiz.de/10012905410
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Sharpening Performance Measurement with the Operating and Total EVA
Ibragimov, Rauf - 2018
concurrently with the two metrics, the Operating EVA and the Total EVA. Operating EVA is calculated by applying the risk of assets …
Persistent link: https://www.econbiz.de/10012936046
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Toward Better Measurement of Financial Performance : A Robust OEVA-TEVA Alternative to Biased EVA
Ibragimov, Rauf - 2019
We demonstrate analytically and illustrate with examples that the conventional measures of the residual operating income such as the Economic Value Added (EVA) are biased by design and so may yield a misleading assessment of financial performance. Fundamentally, the magnitude of the measurement...
Persistent link: https://www.econbiz.de/10012865144
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Value of Debt Tax Shields in Colombia : An Empirical Study
Salas-Pérez, Rafael - 2020
The Spanish version of this paper can be found http://ssrn.com/abstract=1899685This paper estimates the value of tax shields, using the discounted cash flow method for 23 major non financial firms listed in the Bolsa de Valores de Colombia (Colombian Stock Exchange) between 2001 and 2010. Our...
Persistent link: https://www.econbiz.de/10012857389
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Valor de los Ahorros en Impuestos por Deuda en Colombia : Un Estudio Empírico (Value of Debt Tax Shields in Colombia: An Empirical Study)
Salas-Pérez, Rafael - 2020
The English version of this paper can be found at http://ssrn.com/abstract=1919305This paper estimates the value of tax shields, using the discounted cash flow method for 23 major non financial firms listed in the Bolsa de Valores de Colombia (Colombian Stock Exchange) between 2001 and 2010. Our...
Persistent link: https://www.econbiz.de/10012857400
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Forecasting Tools and Forecasting Financial Statements (Herramientas de Proyecciones y Proyecciones de los Estados Financieros) (Spanish)
Velez-Pareja, Ignacio - 2011
This is a teaching material for a module of Financial analysis at Universidad Tecnológica de Bolivar. The educational material was developed with Professor Ricardo Davila from Universidad Javeriana, Bogota, Colombia. The written material has been modified several times using the feedback from...
Persistent link: https://www.econbiz.de/10013130108