Browsing by Subject "Gain to leverage"

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    • A capital structure model (CSM) with tax rate changes 

      Hull, Robert M.
      Perpetuity gain to leverage (GL) research originates in Modigliani and Miller (1963) and was extended by Miller (1977) to incorporate personal taxes. This research analyzes GL when issuing debt to retire unlevered equity. ...

    • A Capital Structure Model with Growth 

      Hull, Robert M.
      This paper broadens perpetuity gain to level (GL) research by analyzing the role of growth within the capital structure model (CSM) formalized by Hull (2007). We contrast the cost of using internal equity versus external ...