Arnold, Sven; Lahmann, Alexander; Schwetzler, Bernhard - In: Business research 11 (2018) 1, pp. 149-171
as (re-) financing policy, affects the value of tax shields. Standard discounted cash flow (DCF) models offer two … simplified (re-) financing policies originally introduced by Modigliani and Miller (MM) as well as Miles and Ezzell (ME). In this … paper, we introduce a discontinuous financing policy that refers to the refinancing intervals, i.e., the maturity structure …