discusses the determinants of the lease‐buy decision and the determinants of the choice between finance leases and operating … leases. Findings Previous empirical studies show that there is no consensus as to whether debt and leases are complements or …

Operating leases are quite important in some industries. There are two possible errors that should be avoided when … valuing a company with operating leases. In the first place, one should not neglect the implied lease debt. Such neglect … paper outlines an approximate procedure for handling operating leases in valuation models, in particular the discounted cash …