Modern Corporate Finance, Investments and Taxation
This monograph is devoted to the modern theory of capital cost and capital structure and its application to the real economy. In particular, it presents a possible explanation to the causes of global financial crisis. The authors of the book modify the th
- PDF / 11,064,356 Bytes
- 374 Pages / 439.42 x 683.15 pts Page_size
- 95 Downloads / 233 Views
Corporate Finance, Investments and Taxation
Modern Corporate Finance, Investments and Taxation
ThiS is a FM Blank Page
Peter Brusov • Tatiana Filatova • Natali Orekhova • Mukhadin Eskindarov
Modern Corporate Finance, Investments and Taxation
Peter Brusov Financial University under the Government of Russian Federation Moscow Russia
Tatiana Filatova Financial University under the Government of Russian Federation Moscow Russia
Natali Orekhova High School of Business Southern Federal University Rostov-on-Don Russia
Mukhadin Eskindarov Financial University under the Government of Russian Federation Moscow Russia
Corporate Finance, Investment and Taxation Laboratory Research Consortium of Universities of the South of Russia Rostov-on-Don Russia
ISBN 978-3-319-14731-4 ISBN 978-3-319-14732-1 DOI 10.1007/978-3-319-14732-1
(eBook)
Library of Congress Control Number: 2015938761 Springer Cham Heidelberg New York Dordrecht London © Springer International Publishing Switzerland 2015 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer International Publishing AG Switzerland is part of Springer Science+Business Media (www.springer.com)
Dedicated to our dear granddaughter Anyuta, who sings songs equally wonderful in Russian and in German
ThiS is a FM Blank Page
Preface
This book describes in detail the modern theory of corporate finance, investment, and taxation, created by Brusov, Filatova, and Orekhova (BFO theory), which has replaced the famous theory of capital cost and capital structure by Nobel laureates Modigliani and Miller. The authors have moved from the assumption of Modigliani–Miller concerning the perpetuity (infinite time of life) of companies and further elaborated quantitative theory of valuation of key parameters of financial activities of companies with arbitrary time of life (of arbitrary age). Results of modern BFO theory turn out to be quite different from those of Modigliani–Miller theory. They show that the latter,
Data Loading...
