The Brusov–Filatova–Orekhova Theory of Capital Structure: Applications in Corporate Finance, Investments,...

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Peter Brusov Tatiana Filatova

The Brusov–Filatova–Orekhova Theory of Capital Structure

Applications in Corporate Finance, Investments, Taxation and Ratings

Peter Brusov, Tatiana Filatova, Natali Orekhova

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English

Springer International Publishing AG
18 May 2023

Corporate finance; Corporate tax

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.

By: Peter Brusov, Tatiana Filatova, Natali Orekhova
Imprint: Springer International Publishing AG
Country of Publication: Switzerland
Edition: 2023 ed.
Dimensions: Height: 235mm, Width: 155mm,
Weight: 1.364kg
ISBN: 9783031279287
ISBN 10: 303127928X
Pages: 769
Publication Date: 18 May 2023
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Peter Brusov is professor at the Financial University under the Government of the Russian Federation in Moscow (Russia). He has been a visiting Professor of Northwestern University (USA), Cornell University (USA), Osaka City University (Japan) and National Chung Cheng University (Taiwan) among other places. He is the author of over 500 research publications including six monographs, numerous textbooks and articles.Tatiana Filatova is professor at the Financial University under the Government of the Russian Federation in Moscow (Russia). In the past 20 years, she has been Dean of the faculties of financial management, management, state and municipal government at the Financial University. Tatiana Filatova is the author of over 250 research publications including five monographs, numerous textbooks and articles. Natali Orekhova is professor at the Southern Federal University in Rostov-on-Don (Russia). She has been a leading scientist of the Financial University under the Government of the Russian Federation. She is the author of over 120 research publications including five monographs, numerous textbooks and articles.