Modern Corporate Finance, Investments, Taxation and Ratings

Modern Corporate Finance, Investments, Taxation and Ratings, 2nd Edition, is a research monograph that presents the Brusov–Filatova–Orekhova (BFO) theory of capital cost and capital structure. The authors position this framework to replace the traditional Modigliani–Miller theory and demonstrate its application to the real economy.

The volume outlines a general theory of capital cost and structure applicable to corporations of arbitrary lifetime and investment projects of arbitrary duration. It also explores how BFO theory provides a potential explanation for the causes of the global financial crisis.

In addition to theoretical analysis, the text introduces investment models and examines practical corporate examples intended for use in company financial operations.