Includes abstract. / Includes bibliographical references (leaves 169-178). / I examine the effect of South African taxes, specifically the secondary tax on companies (STC) and capital gains tax (CGT) on investor measures of expected return and firm value, firm cost of capital and optimal capital structure. The discussion, findings and models presented in this study are entirely original in the field of South African corporate finance research. I model the relationship between STC, CGT and expected return and use this relationship to formulate an hypothesis of the expected behaviour of ex ante measures of implied cost of capital for a sample of listed South African companies.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:uct/oai:localhost:11427/11548 |
| Date | January 2010 |
| Creators | Marcus, Matthew |
| Contributors | Toerien, Francois |
| Publisher | University of Cape Town, Faculty of Commerce, School of Management Studies |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Doctoral Thesis, Doctoral, PhD |
| Format | application/pdf |
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