' discount rate. This setup applies to any debt policy and any cash flow pattern. It only requires the equality at any time … that consider a fixed discount rate for the tax shields and require a fixed level of debt or a fixed leverage ratio, in … modelizes the different market value discount rates as functions of both their relevant leverage ratio and the operating …

among all the methods when using the appropriate discount rate. In the following pedagogical note is presented, through a …

cost of equity (discount rates) in efficient markets, SML relationship is used for deriving cost of equity. Similarly, SML … returns need not be same as implied discount rates even when CAPM is applicable and markets are efficient. This is because the … stock returns and discount rates will be same mathematically only when the discount rates are expected to remain constant …

returns have a higher perceived cost of equity and use higher discount rates in capital budgeting. Variation in expected stock … 26% of the cross-sectional variation in the hurdle rates. The results support the hypothesis that discount rates in … financial markets influence corporate discount rates and thereby corporate investment …

discount model we compute the implied discount rate and we compare it with the corresponding premium on the corporate credit … variables and we found weak evidence of Granger causality from CDS premium to the discount factor. Our findings are also robust …