dc.identifier.uri | http://dx.doi.org/10.15488/5163 | |
dc.identifier.uri | https://www.repo.uni-hannover.de/handle/123456789/5210 | |
dc.contributor.author | Scholze, Andreas![]() |
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dc.date.accessioned | 2019-08-15T07:18:14Z | |
dc.date.available | 2019-08-15T07:18:14Z | |
dc.date.issued | 2010 | |
dc.identifier.citation | Scholze, Andreas: A Simple Accounting-Based Valuation Model for the Debt Tax Shield. In: Business Research 3 (2010), Nr. 1, S. 37-47. DOI: https://doi.org/10.1007/bf03342714 | |
dc.description.abstract | This paper describes a simple way to integrate the debt tax shield into an accounting-based valuation model. The market value of equity is determined by forecasting residual operating income, which is calculated by charging operating income for the operating assets at a required return that accounts for the tax benefit that comes from borrowing to raise cash for the operations. The model assumes that the firm maintains a deterministic financial leverage ratio, which tends to converge quickly to typical steady-state levels over time. From a practical point of view, this characteristic is of particular help, because it allows a continuing value calculation at the end of a short forecast period. | eng |
dc.language.iso | eng | |
dc.publisher | Heidelberg : Springer | |
dc.relation.ispartofseries | Business Research 3 (2010), Nr. 1 | |
dc.rights | CC BY 4.0 Unported | |
dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | |
dc.subject | Finance | eng |
dc.subject | Financial economics | eng |
dc.subject | Value-added tax | eng |
dc.subject | Residual income valuation | eng |
dc.subject | Tax shield | eng |
dc.subject | Accounting | eng |
dc.subject | Adjusted present value | eng |
dc.subject | Economics | eng |
dc.subject | Comprehensive income | eng |
dc.subject | Write-off | eng |
dc.subject | Corporate finance | eng |
dc.subject | Operating leverage | eng |
dc.subject.ddc |
330 | Wirtschaft
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dc.title | A Simple Accounting-Based Valuation Model for the Debt Tax Shield | eng |
dc.type | Article | |
dc.type | Text | |
dc.relation.issn | 2198-3402 | |
dc.relation.doi | https://doi.org/10.1007/bf03342714 | |
dc.bibliographicCitation.issue | 1 | |
dc.bibliographicCitation.volume | 3 | |
dc.bibliographicCitation.firstPage | 37 | |
dc.bibliographicCitation.lastPage | 47 | |
dc.description.version | publishedVersion | |
tib.accessRights | frei zug�nglich |
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