Arzac, Enrique R.; Glosten, Lawrence R. - In: European Financial Management 11 (2005) 4, pp. 453-461
"A quarter-century ago, Miles and Ezzell (1980) solved the valuation problem of a firm that follows a constant leverage ratio L = D/S. However, to this day, the proper discounting of free cash flows and the computation of WACC are often misunderstood by scholars and practitioners alike. For...
