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Lecture
Principles of Finance: Debt, Taxes, and Firm Value
Description
This lecture covers the implications of Modigliani/Miller theorem on returns, the relationship between leverage and equity returns, the impact of debt on cash flow shocks and solvency risk, the rise of corporate debt compared to GDP, the mechanics of debt financing, the risk and return evaluation, the NPV of investment opportunities, the interest tax shield, and the methods to value firms/projects with debt.
Official source
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