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Impact of the Taxation of the Company's Investors on the Cost of the Company


Marina Bobrovskaya
(about the author)

Bobrovskaya Marina Sergeevna – Postgraduate Student of the Academic Department of Finances and Credit of the Economics Department, Lomonosov Moscow State University

Published in:
Russian Journal of Entrepreneurship
– № 20 / October, 2012



Keywords: company value, marginal investor, required return on the own capital, tax savings, taxation of the investors


Citation:
Marina Bobrovskaya (2012). Impact of the Taxation of the Company's Investors on the Cost of the Company. Russian Journal of Entrepreneurship, 13(20), 48-55. — url: http://bgscience.ru/com/lib/3845


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Abstract:

The article presents the analysis of the concept of pricing under the influence of taxation of the marginal investors. It examines the after-tax assessment model of long-term assets and its alteration by taking into account the taxation of the marginal investors is suggested. It is convincingly shown that the higher the level of investors taxation is, the higher is the required rate of return of equity, and therefore, the lower is the company value.







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