Brusov-Filatova-Orekhova theory of capital structure : applications in corporate finance, investments, taxation and ratings / Peter Brusov, Tatiana Filatova, Natali Orekhova.
Brusov, Peter, author.; Filatova, Tatiana, author.; Orekhova, Natali, author.
2023
HB501
Available Online

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Title Brusov-Filatova-Orekhova theory of capital structure : applications in corporate finance, investments, taxation and ratings / Peter Brusov, Tatiana Filatova, Natali Orekhova.
Author Brusov, Peter, author.
ISBN 9783031279294 (electronic bk.)
3031279298 (electronic bk.)
303127928X
9783031279287
DOI https://doi.org/10.1007/978-3-031-27929-4
Published Cham, Switzerland : Springer, 2023.
Language English
Description 1 online resource (640 pages) : illustrations (black and white, and color).
Other Standard Identifiers 10.1007/978-3-031-27929-4 doi
Call Number HB501
Dewey Decimal Classification 332/.041
Summary The book introduces and discusses the modern theory of the cost of capital and capital structure - the BFO theory (Brusov-Filatova-Orekhova theory), which is valid for companies of arbitrary age and which replaced the theory of Nobel laureates Modigliani and Miller. The theory takes into account the conditions faced by companies operating in the real economy, such as revenue fluctuations; the arbitrary frequency of tax on profit payments (monthly, quarterly, semi-annual or annual payments), both for advance income tax payments and for payments at the end of the respective period; and the arbitrary frequency of interest on loans payments. The impact of these conditions on the company value, on the cost of raising capital, on the company's dividend policy and managerial decisions are discussed. The book subsequently develops new applications of the BFO theory in several areas such as corporate finance, corporate governance, investments, taxation, business valuations and ratings.
Bibliography, etc. Note Includes bibliographical references.
Access Note Access limited to authorized users.
Source of Description Description based on print version record.
Added Author Filatova, Tatiana, author.
Orekhova, Natali, author.
Available in Other Form BRUSOV-FILATOVA-OREKHOVA THEORY OF CAPITAL STRUCTURE.
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Introduction
Capital Structure Theory: Past, Present, Future
Main Theories of Capital Structure
Modern theory of capital cost and capital structure - Brusov-Filatova-Orekhova theory (BFO theory)
Bankruptcy of the famous trade off theory
New mechanism of formation of the company optimal capital structure, different from suggested by trade off theory
The global causes of the global financial crisis
The role of taxing and leverage in evaluation of capital cost and capitalization of the company
A qualitatively new effect in corporate finance: abnormal dependence of equity cost of company on leverage
Inflation in BrusovFilatovaOrekhova theory and in its perpetuity limit Modigliani Miller theory
Benefits of Advance Payments of Tax on Profit: Consideration within BrusovFilatovaOrekhova (BFO) Theory
The Generalization of the BrusovFilatovaOrekhova Theory for the Case of Payments of Tax on Profit with Arbitrary Frequency
Influence of Method and Frequency of Profit Tax Payments on Company Financial Indicators
Generalization of the BrusovFilatovaOrekhova Theory for the Case of Variable Income
BFO Theory with Variable Profit in Case of Advance Payments of Tax on Profit
BFO Theory with Variable Profit: Two Types of Payments of Tax on Profit: Advanced Payments and at the Ends of Periods
Investment models with debt repayment at the end of the project and their application
Investment Models with Uniform Debt Repayment and Their Application
The analysis of the exploration of efficiency of investment projects of arbitrary duration (within BrusovFilatovaOrekhova theory)
Whether it is possible to increase taxing and conserve a good investment climate in the country?
Whether it is possible to increase of the investment effi-ciency, increasing tax on profit rate?
Optimizing the Investment Structure of the Telecommunication Sector Company
Innovative Investment Models with Frequent Payments of Tax on Income and of Interest on Debt
The Role of the Central Bank and Commercial Banks in Creating and Maintaining of a Favorable Investment Climate in the Country
The Golden Age of the Company (Three Colors of Companys Time)
A "golden age" of the companies: Conditions of its existence
New meaningful effects in modern capital structure theory
Rating: New Approach
Rating methodology: new look and new horizons
Application of the ModiglianiMiller Theory, Modified For the Case of Advance Payments of Tax on Profit, in Rating Methodologies
Ratings of the Investment Projects of Arbitrary Durations: New Methodology
Ratings of Investment Projects of Arbitrary Duration with a Uniform Debt Repayment: a new approach
Conclusions.

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