Finanzierungstheorie auf vollkommenen und unvollkommenen Kapitalmärkten

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This collection features insights from various experts in finance, addressing critical topics in financial research and valuation. Prof. Dr. Wolfgang Kürsten discusses the balance between rigor and relevance in financial studies. Prof. Dr. Marcus Heintzen explores the implications of legal considerations in financial calculations, while Prof. Dr. Joachim Fischer emphasizes the importance of contractual agreements in financial assessments. Dr. Sebastian Lobe and Wolfgang Essler delve into the theory of Discounted Cash Flow, reflecting on lessons learned since Modigliani and Miller. Prof. Dr. Franz W. Wagner highlights the often-overlooked impact of taxation on corporate valuation. Dr. Martin Jonas examines the valuation of controlled companies through a precautionary principle. Prof. Dr. Wolfgang Ballwieser addresses the complexity reduction in corporate valuation through discount rates used by auditors. Prof. Dr. Martin Wallmeier critiques the concept of the "Steady State" in valuation. Other contributions include assessments of pension obligations, stochastic capital value with autocorrelated cash flows, and the influence of stochastic interest rates on derivatives. The collection serves as a valuable resource for faculty and doctoral candidates in corporate finance across German-speaking institutions.