Wealth Maximization and the Cost of Capital

Alan J. Auerbach

101 citations0/0 files storedNational Bureau of Economic Research

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Financial Reporting and Valuation Research Corporate Finance and Governance Financial Analysis and Corporate Governance

Abstract

The model, 434.-Ill.The problem, 435.-IV.Wealth maximization: no personal taxes, 436.-V.Wealth maximization with personal taxes, 438.-VI.Firm value and the cost of capital, 440.-Vu.Financial policy and the cost of capital, 442.-VHI.Conclusion, 445.* The author would like to thank Martin Feldstein and Jerry Green

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References

2008The cost of capital, corporation finance and the theory of investment 1961Dividend Policy, Growth, and the Valuation of Shares 1969A General Equilibrium Approach To Monetary Theory 1973Taxation, corporate financial policy, and the cost of capital 1981The incidence and allocation effects of a tax on corporate distributions 1974Taxation and the Cost of Capital 1967TAXES, CORPORATE FINANCIAL POLICY AND RETURN TO INVESTORS 1979Share valuation and corporate equity policy

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