Abstract
The English version of this paper can be found at http://ssrn.com/abstract=1919305This paper estimates the value of tax savings, using the method of discounted cash flows for 23 major industrial firms in the Bolsa de Valores de Colombia (Colombian Stock Market) between 2001 and 2010, showing that this value represents on average between 5.74% and 56.73% out of total firm value depending on discount rate for tax savings. Using Data Panel regressions, it also finds that the average leverage of firms is low relative to other countries. Given this fact, we explored the behavior of the total value of the firm, VT and found no evidence that debt creates value.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
