We study two court rulings that materially affected dividend taxation in several European countries. The tax changes were not related to economic conditions or part of broader policy initiatives, providing a useful experiment for identifying the effect of taxation on capital structure, payout,...

Overview of valuation -- Forecasting and valuing cash flows -- Project risk analysis -- Estimating a firm's cost of capital -- Estimating required rates of return for projects -- Forecasting financial performance -- Earnings dilution, incentive compensation, and project selection -- Relative...