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SCOPE AND OUTLINE OF THE BOOK
MODELS OF DYNAMIC BEHAVIOUR
TAXATION AND SOME IMPLICATIONS
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amount of capital amount of debt analysis assume assumption capital gain capital structure chapter clienteles concave function consider constraints contraction policy control variables convex function corporate tax corporate tax rate debt and equity derive different tax differential games dividend policy investor dO/dK earnings equal equilibrium market value equity claims feasible figure final policy financial leverage firm's fiscal formulation Gordon Gordon model impact implies investment policy investors subject irrelevancy theorem leverage rate leverage related costs levered firm Loon marginal return master trajectory maximum principle objective functional Optimal Control Theory optimal policy string personal tax rate personal value planning horizon preceding policy preference rate present value production capacity level progressive personal tax rate of return return to equity returns to scale revenue second investor shareholders shares stationary dividend policy tax brackets tax induced tax system taxation taxed investors tion transversality conditions value maximizing firm zero dividend policy