Wealth Maximization and the Cost of Capital

Alan Auerbach

The Quarterly Journal of Economics, 1979, vol. 93, issue 3, 433-446

Abstract: I. Introduction, 433.—II. The model, 434.—III. The problem, 435.—IV. Wealth maximization: no personal taxes, 436.—V. Wealth maximization with personal taxes, 438.—VI. Firm value and the cost of capital, 440.—VII. Financial policy and the cost of capital, 442.—VIII. Conclusion, 445.

Date: 1979
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