We extend the WACC approach to a tax system having a firm income tax and a personal income tax of the investor as well …. We use an artificial tax system incorporating most of the G-7 national tax codes as for example the classical or the …

We extend the WACC approach to a tax system having a firm income tax and a personal income tax of the investor as well … imputation systems. On our website (www.wacc.de) WACC formulas according to many of the actual G-7 national tax codes can be …. We use an artificial tax system incorporating most of the G-7 national tax codes as for example the classical or the …

the most commonly used "additions" are: WACC, beta ( ), market risk premium, beta unlevered, value of tax shields…. Most …Company valuation using discounted cash flows is based on the valuation of government bonds: it consists of applying …

This paper shows that ten methods of company valuation using cash flow discounting (WACC; equity cash flow; capital … assumptions; they only differ in the cash flows taken as the starting point for the valuation. We present all ten methods allowing …

valuations: the Weighted Average Cost of Capital (WACC) and Adjusted Present Value (APV). As is often the case of many larger … firms in industrialized economies, whenever a target debt ratio is set up for the long term, WACC might be a good … countries with complex tax legislation and in emerging markets where high economic uncertainty makes the leveraging decision …

flow example to illustrate the valuation procedure for using the Discounted Cash Flow (DCF) method with the free cash flow …

the present value of tax liabilities are calculated, by using an after-tax risk-free discount rate, and incorporating any … new or reduced tax liabilities generated into its expected risk and return estimates. The asset allocation problem is … marginal tax rates, investment horizons, borrowing premiums, high or low inflation environments, and different starting cost …