Note on Taxes, Corporate Financial Policy and the Cost of Capital to the Firm
Language: English
Published by Forgotten Books, 2018
- Softcover
- New
Seller: Forgotten Books, London, United KingdomForgotten Books
AbeBooks seller since June 2, 2021
Condition: New
£ 13.60
Quantity: Over 20 available
Add to basketItem description from seller
Print on Demand. This book explores the impact of taxes on corporate financial policies and the cost of capital. The author argues that in the absence of taxes, financial decisions like debt and dividend policies should not affect a firm's value or cost of capital, as investors can recreate any financial package on their own. However, the introduction of taxes, specifically corporate income taxes, creates an incentive for firms to hold as much debt as possible to take advantage of the tax shield. The book extends this analysis to consider the impact of differential personal income and capital gains taxes, finding that these factors also influence optimal debt and dividend policies. The author presents a series of increasingly complex tax structures and examines their impact on a hypothetical corporation's financial policies, providing insights into the interplay between taxes, financial decisions, and the cost of capital. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. …
Seller Inventory # 9781334431036_0
- Title
- Note on Taxes, Corporate Financial Policy and the Cost of Capital to the Firm
- Author
- Donald Eugene Farrar, Lee Lawrence Selwyn
- Publisher
- Forgotten Books
- Publication year
- 2018
- Condition
- New
- Book Type
- print-on-demand item
- Binding
- Paperback
- Language
- English
- ISBN 10
- 1334431035
- ISBN 13
- 9781334431036
- Seller catalogs
- Business
Readers will gain a clear view of how different tax structures influence optimal debt and payout strategies, and how these choices interact with market value and investment decisions. The work frames arguments around Modigliani and Miller’s ideas, then tests them under corporate taxes, personal taxes, and capital gains contexts.
- Understand how corporate and personal taxes can alter the value of debt vs. equity financing.
- See how dividend versus capital gains treatment affects investor disposable income.
- Compare scenarios with no taxes, corporate taxes, and differential personal taxes to see where policies diverge.
- Learn how tax considerations interact with debt policy and payout choices in practice.
Ideal for readers of corporate finance, taxation, and policy discussions who want a clear, case-based view of how tax rules influence capital costs and payout decisions.
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Forgotten Books
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Forgotten Books’ Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the quality of the aged text.
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Forgotten Books publishes hundreds of thousands of rare and classic books.
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.
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