Note: Comparison of APV with Corporate Valuation Model
{"Image DocumentName": "Note: Comparison of APV with Corporate Valuation Model", "Image ImageDescription": "APV discounts FCF at rsU and also the tax shields at rsU; the value of the tax savings is incorporated explicitly. Corp. Val. Model discounts FCF at WACC, which has a (1-T) factor to account for the value of the tax shield. Both models give same answer if the capital structure is constant. But if the capital structure is changing, then APV should be used.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}