LEADER 06219nam 22006495 450 001 9910299629003321 005 20200703115047.0 010 $a3-319-99686-X 024 7 $a10.1007/978-3-319-99686-8 035 $a(CKB)4100000007127579 035 $a(MiAaPQ)EBC5598600 035 $a(DE-He213)978-3-319-99686-8 035 $a(EXLCZ)994100000007127579 100 $a20181111d2018 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aModern Corporate Finance, Investments, Taxation and Ratings /$fby Peter Brusov, Tatiana Filatova, Natali Orekhova, Mukhadin Eskindarov 205 $a2nd ed. 2018. 210 1$aCham :$cSpringer International Publishing :$cImprint: Springer,$d2018. 215 $a1 online resource (576 pages) 311 $a3-319-99685-1 327 $aPart I: Corporate Finance -- Introduction -- Capital Structure: Modigliani?Miller Theory -- Modern Theory of Capital Cost and Capital Structure: Brusov-Filatova-Orekhova Theory (BFO Theory) -- Bankruptcy of the Famous Tradeoff Theory -- New Mechanism of Formation of the Company Optimal Capital Structure, Different from Suggested by Trade Off Theory -- The Global Causes of 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 Brusov?Filatova?Orekhova Theory and in Its Perpetuity Limit ? Modigliani ? Miller Theory -- Part II: Investments -- A Portfolio of Two Securities -- Investment Models with Debt Repayment at the End of the Project and Their Application -- Influence of Debt Financing on the Efficiency of Investment Projects: The Analysis of Efficiency of Investment Projects within the Perpetuity (Modigliani?Miller) Approximation -- The Analysis of the Exploration of Efficiency of Investment Projects of Arbitrary Duration (within Brusov?Filatova?Orekhova Theory) -- Investment Models with Uniform Debt Repayment and Their Application -- Part III: Taxation -- It Is Possible to Increase Taxing and Conserve a Good Investment Climate in the Country?- It Is Possible to Increase the Investment Efficiency, Increasing Tax on Profit Rate? An Abnormal Influence of Growth of Tax on Profit Rate on the Efficiency of the Investment -- Optimizing of the Investment Structure of the Telecommunication Sector Company -- The Golden Age of the Company (Three Colors of Company's Time) -- A "Golden Age" of the Companies: Conditions of its Existence -- The Role of the Central Bank and Commercial Banks in Creating and Maintaining of a Favorable Investment Climate in the Country -- Part IV: Ratings and rating methodologies -- Rating: New Approach -- Rating Methodology: New Look and New Horizons -- Ratings of the Long?Term Projects: New Approach -- New Meaningful Effects in Modern Capital Structure Theory -- Conclusion. 330 $aThis monograph is devoted to a modern theory of capital cost and capital structure created by this book?s authors, called the Brusov?Filatova?Orekhova (BFO) theory, and its application to the real economy. BFO theory promises to replace the traditional theory of capital cost and capital structure by Nobel laureates Modigliani and Miller. This new theory in particular, presents a possible explanation to the causes of the recent global financial crisis. The authors of the book describe the general theory of capital cost and capital structure that can be applied to corporations of arbitrary age (or with arbitrary lifetime) and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations. This updated second edition includes new chapters devoted to the application of the BFO theory in ratings, banking and other areas. The authors also provide a new approach to rating methodology highlighting the need for including financial flow discounting, the incorporation of rating parameters (in particular, financial ratios) into the modern theory of capital structure - BFO theory. This book aims to change our understanding of corporate finance, investments, taxation and rating procedures. The authors emphasize that the most used principles of financial management should be changed in accordance to BFO theory. 606 $aCorporations?Finance 606 $aAccounting 606 $aBookkeeping  606 $aMacroeconomics 606 $aFinancial crises 606 $aLeadership 606 $aCorporate Finance$3https://scigraph.springernature.com/ontologies/product-market-codes/612000 606 $aAccounting/Auditing$3https://scigraph.springernature.com/ontologies/product-market-codes/511000 606 $aMacroeconomics/Monetary Economics//Financial Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W32000 606 $aFinancial Crises$3https://scigraph.springernature.com/ontologies/product-market-codes/617010 606 $aBusiness Strategy/Leadership$3https://scigraph.springernature.com/ontologies/product-market-codes/515010 615 0$aCorporations?Finance. 615 0$aAccounting. 615 0$aBookkeeping . 615 0$aMacroeconomics. 615 0$aFinancial crises. 615 0$aLeadership. 615 14$aCorporate Finance. 615 24$aAccounting/Auditing. 615 24$aMacroeconomics/Monetary Economics//Financial Economics. 615 24$aFinancial Crises. 615 24$aBusiness Strategy/Leadership. 676 $a658.15 700 $aBrusov$b Peter$4aut$4http://id.loc.gov/vocabulary/relators/aut$01060349 702 $aFilatova$b Tatiana$4aut$4http://id.loc.gov/vocabulary/relators/aut 702 $aOrekhova$b Natali$4aut$4http://id.loc.gov/vocabulary/relators/aut 702 $aEskindarov$b Mukhadin$4aut$4http://id.loc.gov/vocabulary/relators/aut 906 $aBOOK 912 $a9910299629003321 996 $aModern Corporate Finance, Investments, Taxation and Ratings$92512579 997 $aUNINA