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Operationalisierung der Determinanten des Tax-CAPM unter besonderer Berücksichtigung des risikolosen Basiszinssatzes

Operationalisierung der Determinanten des Tax-CAPM unter besonderer Berücksichtigung des risikolosen Basiszinssatzes

          
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About the Book

Bachelorarbeit aus dem Jahr 2008 im Fachbereich BWL - Rechnungswesen, Bilanzierung, Steuern, Note: 1,3, Johann Wolfgang Goethe-Universität Frankfurt am Main, Sprache: Deutsch, Abstract: In dieser Arbeit zeige ich wie der risikolose Basiszinssatz, der bei einer objektiven Unternehmensbewertung häufig in das Tax-CAPM eingebettet ist, auf theoretisch korrekte und praktisch umsetzbare Weise ermittelt werden kann. Dabei betone ich die Bedeutung und Funktion des risikolosen Basiszinssatzes für eine korrekte Unternehmensbewertung. Im ersten Abschnitt dieser Arbeit wird das Modell vorgestellt, in das der risikolose Basiszinssatz üblicherweise eingeht. Die Ausgangsbasis des Modells, die verschiedenen Formen des Modells basierend auf verschiedenen Steuersystemen und die Validität des Modells präsentieren dabei die wesentlichen Punkte. Der zweite Teil beginnt mit der Definition des risikofreien Basiszinssatzes unter praktischen sowie theoretischen Aspekten und zeigt auf, welche Fehler dabei in der Vergangenheit begangen wurden. Dieser Teil endet mit Methoden, mit denen der risikofreie Basiszinssatz unter theoretischen und praktischen Gesichtspunkten ermittelt und angepasst werden kann. Die Arbeit schließt mit einer thesenförmigen Zusammenfassung ab, welche die herausgearbeiteten Thesen gegenüberstellt und bewertet. Das Beispiel der Zins AG dient dazu, Fehler der Vergangenheit, anerkannte Methoden und Vereinfachungen messbar darzustellen. Durch sechs unterschiedliche Verfahren, die auf unterschiedlichen Annahmen beruhen, ermittele ich dabei den Unternehmenswert der Zins AG, um bestimmte Ergebnisse der Arbeit zu verdeutlichen.


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Product Details
  • ISBN-13: 9783640842896
  • Publisher: Grin Verlag
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Width: 148 mm
  • ISBN-10: 3640842898
  • Publisher Date: 25 Feb 2011
  • Height: 210 mm
  • No of Pages: 60
  • Series Title: German
  • Weight: 91 gr


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Operationalisierung der Determinanten des Tax-CAPM unter besonderer Berücksichtigung des risikolosen Basiszinssatzes
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Operationalisierung der Determinanten des Tax-CAPM unter besonderer Berücksichtigung des risikolosen Basiszinssatzes
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