Standard discounted cash flow approaches suffer from a rudimental modeling of the
possibility of a default, as the main characteristics such as the default probability and …

Entrepreneurial finance is a discipline that studies financial resource mobilization, resource
allocation, risk moderation, optimization in financial contracting, value creation, and value …

Die Unternehmensbewertung wird im Schrifttum oftmals als die „Königsdisziplin “der
Betriebswirtschaftslehre bezeichnet, weil sie verschiedene ökonomische Teildisziplinen in …

Valuing firm’s financial flexibility under default risk and bankruptcy costs: a WACC based
approach | Emerald Insight Books and journals Case studies Expert Briefings Open Access …

This data article provides estimates on the Russian regions' aggregate free cash flow, which
is not covered by national statistics of major countries. A proper microeconomic model was …

Abstract Accepted by: Aris Syntetos We show that using forecasts of a firm's income growth
in the context of stock valuation can lead to overpricing of the firm's stock, which is consistent …

We advance models of valuation that incorporate personal taxes. The models are general in
allowing for uneven cash flows, changes in debt levels, and changes in the costs of equity …

We suggest a new approach to calculating a project's net present value, termed the
displaced equity method. Based on a straightforward formula, it analyzes a project partially …

Capital market and accounting regulations stipulate that firms' market prices should be
preferred over expert valuations as the latter are more susceptible to subjective assertions or …

Academics and professionals frequently use the yield to maturity (YTM) as a proxy for the
cost of debt when valuing firms using discounted cash flow (DCF). This paper demonstrates …