'Tax shield' diaporamas de présentation

B40.2302 Class #8

B40.2302 Class #8. BM6 chapters 16.5-16.8,18.1-18.3,18.5,19 16.5-16.8: Dividend relevance under taxes etc. 18.1-18.3, 18.5: Capital structure relevance under taxes and financial distress 19: Valuation under financing effects Based on slides created by Matthew Will

654 views • 57 slides

Review

Review. Debt vs. Equity overview Last Lecture (Ch 17) reintroduced these topics Now - We will begin to add real world complexities. Topics Covered. Debt and Value in a Tax Free Economy Corporate Taxes and Debt Policy Cost of Financial Distress Explaining Financial Choices.

665 views • 53 slides

Capital Structure

Capital Structure. What finance functions add the most to firm value?. Corporate Financing. We have been focusing on investment decision What should the firm buy? Now we are turning to the financing decision How does the firm pay for it?. How do Firms Pay for Stuff.

666 views • 50 slides

Types of mergers Merger analysis Role of investment bankers

CHAPTER 25 Mergers, LBOs, Divestitures, and Holding Companies. Types of mergers Merger analysis Role of investment bankers LBOs, divestitures, and holding companies. What are some valid economic justifications for mergers?.

857 views • 47 slides

Types of mergers Merger analysis Role of investment bankers

CHAPTER 25 Mergers, LBOs, Divestitures, and Holding Companies. Types of mergers Merger analysis Role of investment bankers LBOs, divestitures, and holding companies. What are some valid economic justifications for mergers?.

570 views • 47 slides

Pension Accounting and the Case of General Motors

561 views • 36 slides

Corporate Valuation

Corporate Valuation. Executive Masters Program Timothy A. Thompson. Corporate Valuation using Discounted Cash Flow Techniques. Lecture not about comparable transactions methods, or premiums paid analysis Purpose here: outline principles of DCF valuation and discuss some implementation.

737 views • 31 slides

The Capital Structure Decision

464 views • 27 slides

Capital Structure Decision

803 views • 25 slides

Capital Structure Decision

409 views • 25 slides

The Cost of Capital (Chapter 15)

716 views • 20 slides

The Cost of Capital (Chapter 15)

422 views • 20 slides

The Cost of Capital (Chapter 15)

399 views • 20 slides

Chapter Outline

Chapter Outline. 10.1 Tax Benefits Defined 10.2 Progressivity in Corporate Income Tax Rates Overview Numerical Example and Additional Insights Progressivity of US Corporate Income Tax Rates 10.3 Tax Treatment of Insurers versus Non-Insurance Companies Overview

710 views • 18 slides

276 views • 17 slides

Capital Structure Decisions Chapter 15 and 16

Capital Structure Decisions Chapter 15 and 16. Financial Policy and Planning (MB 29). Outline. Meaning of Capital Structure Optimal Capital Structure How much should a firm borrow? Does capital structure matter? Does it influence the value of the firm? Limits to the use of debt

654 views • 14 slides

Module 2: Reformulating the Financial Statements

Module 2: Reformulating the Financial Statements. Intercontinental Hotel Group IHG. Julia Lassarat January 22, 2014. Roadmap. Enterprise v. Financial Operations Reformulation NEA v. NFL NEA and NFL Components for IHG IHG Computations EPAT v. FEAT EPAT and FEAT Components for IHG

262 views • 12 slides

Bow Tie Company

179 views • 3 slides

Module 2 - REFORMULATION Junichi Hara

Module 2 - REFORMULATION Junichi Hara. Agenda. Net Enterprise Assets (NEA) Enterprise Profits After Taxes (EPAT) Unanswered questions. Net Enterprise Assets (NEA). Enterprise Assets (EA). Cash. Cash. Operating cash = 2% of revenue 2013 sales: $469,162 million Calculated cash: $9,383

149 views • 0 slides

Risk and Leverage

123 views • 0 slides