haku: @author Bogner, S. / yhteensä: 6
viite: 1 / 6
« edellinen | seuraava »
Tekijä:Bogner, S.
Frühwirth, M.
Schwaiger, M.
Otsikko:DCF valuation and imputed interest on equity increase - implications of the Austrian tax system in a model with stochastic profitability
Lehti:Schmalenbach Business Review
2004 : JUL, VOL. 56:3, p. 223-257
Asiasana:Discounted cash flow
Interest rates
Stochastic processes
Taxation
Valuation
Austria
Kieli:eng
Tiivistelmä:In the early 1980s, many European countries implemented tax systems with imputed equity interest provisions. Since the tax reform in 2000, Austria has also allowed the deduction of (ficitious) imputed equity interest from the tax base. This article integrates the resulting equity-related tax benefits into the valuation of corporations. The value of a business in a multi-period model is calculated using the equity method with special attention to the deductibility of imputed equity interest. The results show that a market-to-book ratio is endogenous to the model results.
SCIMA tietueen numero: 256933
lisää koriin
« edellinen | seuraava »
SCIMA