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Comment on "The value of tax shields is NOT equal to the present value of tax shields"
Fieten, Paul; Kruschwitz, Lutz; Laitenberger, Jorg; … - In: The Quarterly Review of Economics and Finance 45 (2005) 1, pp. 184-187
Persistent link: https://www.econbiz.de/10005378601
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Comment on 'the Value of Tax Shields is Not Equal to the Present Value of Tax Shields'
Fieten, Paul - 2004
Persistent link: https://www.econbiz.de/10012785301
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Comment on 'the Value of Tax Shields is Not Equal to the Present Value of Tax Shields', Including an Arbitrage Opportunity
Wonder, Nicholas X. - 2009
In a forthcoming paper, Fernandez (2002) claims to derive a formula for the valuation of debt tax shields for firms with cash flows that grow perpetually at a constant rate. We show that his formula is incorrect and provide an example where his valuation would admit arbitrage
Persistent link: https://www.econbiz.de/10012721963