Review of Tax Shield Valuation and Its Application to Emerging Markets Finance

Tomas Kliestik and Lucia Michalkova

A chapter in Financial Management from an Emerging Market Perspective from IntechOpen

Abstract: Due to the existence of tax-deductible expenses, a tax advantage, called tax shield, arises. The aim of the chapter is to identify and define the well-known approaches associated with tax shield, mainly interest tax shield and to analyze the approaches to quantify the present value of interest tax shields. Finally, we identify those that can be used in the conditions of emerging markets.

Keywords: tax shield; valuation; debt; interest; emerging markets (search for similar items in EconPapers)
JEL-codes: C88 E47 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:121210

DOI: 10.5772/intechopen.70943

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