Peter Brusov's Books

The Brusov–Filatova–Orekhova Theory of Capital Structure

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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The Brusov–Filatova–Orekhova Theory of Capital Structure

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

The book introduces and discusses the modern theory of the cost of capital and capital structure - the BFO theory (Brusov-Filatova-Orekhova theory), which is valid for companies of arbitrary age and which replaced the theory of Nobel laureates Modigliani and Miller. The theory takes into account the conditions faced by companies operating in the real economy, such as revenue fluctuations; the arbitrary frequency of tax on profit payments (monthly, quarterly, semi-annual or annual payments), both for advance income tax payments and for payments at the end of the respective period; and the arbitrary frequency of interest on loans payments. The impact of these conditions on the company value, on the cost of raising capital, on the company's dividend policy and managerial decisions are discussed. The book subsequently develops new applications of the BFO theory in several areas such as corporate finance, corporate governance, investments, taxation, business valuations and ratings.

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Page Count

786

Publisher

Springer Nature

Published Date

ISBN 10

3031279298

ISBN 13

9783031279294

Collective Excitations in Unconventional Superconductors and Superfluids

By: Peter Brusov,Pavel Brusov

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Collective Excitations in Unconventional Superconductors and Superfluids

By: Peter Brusov,Pavel Brusov

This title gives a complete and detailed description of collective modes (CMs) in unconventional superfluids and superconductors (USC).

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Page Count

859

Publisher

World Scientific

Published Date

ISBN 10

9812771239

ISBN 13

9789812771230

The Brusov–Filatova–Orekhova Theory of Capital Structure

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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The Brusov–Filatova–Orekhova Theory of Capital Structure

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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786

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Springer Nature

Published Date

ISBN 10

3031279298

ISBN 13

9783031279294

Modern Corporate Finance, Investments and Taxation

By: Peter Brusov,Tatiana Filatova,Natali Orekhova,Mukhadin Eskindarov

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Modern Corporate Finance, Investments and Taxation

By: Peter Brusov,Tatiana Filatova,Natali Orekhova,Mukhadin Eskindarov

This monograph is devoted to the modern theory of capital cost and capital structure and its application to the real economy. In particular, it presents a possible explanation to the causes of global financial crisis. The authors of the book modify the theory of Nobel Prize winners Modigliani and Miller to describe an alternative theory of capital cost and capital structure that can be applied to corporations with arbitrary lifetime and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations.

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374

Publisher

Springer

Published Date

ISBN 10

3319147323

ISBN 13

9783319147321

Generalized Modigliani–Miller Theory

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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Generalized Modigliani–Miller Theory

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

The original theory of capital cost and capital structure put forward by Nobel Prize Winners Modigliani and Miller has since been modified by many authors, and this book discusses some of them. The book’s authors have created general theory of capital cost and capital structure – the Brusov–Filatova–Orekhova (BFO) theory, which generalizes the Modigliani–Miller theory to encompass companies of an arbitrary age (and arbitrary lifetime). Despite the availability of this more general theory, the classical Modigliani–Miller theory is still widely used in practice. In this book, the authors for the first time generalize it for cases of practical relevance: for the case of variable profit; for the case of advance tax-on-profit payments and interest on debt payments; for the case of several tax-on-profit and interest on debt payments per period; and for the combination of all three effects. These generalizations lead to valuable theoretical results as well as significantly widen of practical application this theory in practice and increase of the quality of finance management of the company. As well, the book investigates the applications of said results in corporate finance, investments, taxation and ratings, where employing a generalized Modigliani–Miller theory can be very fruitful.

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Page Count

371

Publisher

Springer Nature

Published Date

ISBN 10

303093893X

ISBN 13

9783030938932

Modern Corporate Finance, Investments and Taxation

By: Peter Brusov,Tatiana Filatova,Natali Orekhova,Mukhadin Eskindarov

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Modern Corporate Finance, Investments and Taxation

By: Peter Brusov,Tatiana Filatova,Natali Orekhova,Mukhadin Eskindarov

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374

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Springer

Published Date

ISBN 10

3319147323

ISBN 13

9783319147321

The Superfluid Phases of Helium 3

By: Dieter Vollhardt,Peter Wolfle

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The Superfluid Phases of Helium 3

By: Dieter Vollhardt,Peter Wolfle

This classic of modern theoretical physics is the first and only comprehensive treatment of the superfluid phases of helium 3, a crucial aspect of condensed matter physics with applications to many other fields. The self-contained approach explores ideas, concepts, and theoretical results, emphasizing symmetries and the consequences of their spontaneous breakdown. 1990 edition.

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Page Count

660

Publisher

Courier Corporation

Published Date

ISBN 10

0486486311

ISBN 13

9780486486314

Modern Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova,Mukhadin Eskindarov

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Modern Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova,Mukhadin Eskindarov

This monograph is devoted to a modern theory of capital cost and capital structure created by this book’s authors, called the Brusov–Filatova–Orekhova (BFO) theory, and its application to the real economy. BFO theory promises to replace the traditional theory of capital cost and capital structure by Nobel laureates Modigliani and Miller. This new theory in particular, presents a possible explanation to the causes of the recent global financial crisis. The authors of the book describe the general theory of capital cost and capital structure that can be applied to corporations of arbitrary age (or with arbitrary lifetime) and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations. This updated second edition includes new chapters devoted to the application of the BFO theory in ratings, banking and other areas. The authors also provide a new approach to rating methodology highlighting the need for including financial flow discounting, the incorporation of rating parameters (in particular, financial ratios) into the modern theory of capital structure - BFO theory. This book aims to change our understanding of corporate finance, investments, taxation and rating procedures. The authors emphasize that the most used principles of financial management should be changed in accordance to BFO theory.

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576

Publisher

Springer

Published Date

ISBN 10

331999686X

ISBN 13

9783319996868

Ratings

Critical Analysis and New Approaches of Quantitative and Qualitative Methodology

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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Ratings

Critical Analysis and New Approaches of Quantitative and Qualitative Methodology

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

This book presents new methodologies for rating non-financial issuers and project ratings based on the BFO (Brusov-Filatova-Orekhova) theory of capital cost and structure, and its perpetuity limit (Modigliani-Miller theory), as well as modern investment models created by the authors. It first provides a critical analysis of the methodological and systemic shortcomings of the current credit ratings of non-financial issuers and project ratings. In order to increase the objectivity and accuracy of rating assessments, it then modifies the BFO theory for companies of arbitrary age as well as and the perpetuity limit (Modigliani-Miller theory) for rating needs. The authors also incorporate the financial indicators used in the rating methodology into both the BFO theory and the Modigliani-Miller theory. Within the framework of the modified BFO theory for rating needs, they then present a detailed study of the dependence of the weighted average cost of capital of WACC, used as the discount rate for discounting financial flows, on the financial ratios used in the rating, on the age of the company, on the leverage level and on the level of taxation for a wide range of values of equity cost and debt cost for companies of arbitrary age. This makes it possible to correctly assess of the discount rate, taking into account the values of financial ratios. The use of well-established corporate finance theories (BFO theory and its perpetuity limit) opens up new horizons in the rating industry, providing an opportunity to switch from mainly qualitative methods for determining the creditworthiness of issuers to mainly quantitative methods in rating, and as such improving the quality and accuracy of rating scores.

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365

Publisher

Springer Nature

Published Date

ISBN 10

3030562433

ISBN 13

9783030562434

Generalized Modigliani–Miller Theory

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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Generalized Modigliani–Miller Theory

Applications in Corporate Finance, Investments, Taxation and Ratings

By: Peter Brusov,Tatiana Filatova,Natali Orekhova

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371

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Springer Nature

Published Date

ISBN 10

303093893X

ISBN 13

9783030938932

Nothing Is True and Everything Is Possible

The Surreal Heart of the New Russia

By: Peter Pomerantsev

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Nothing Is True and Everything Is Possible

The Surreal Heart of the New Russia

By: Peter Pomerantsev

A journey into the glittering, surreal heart of 21st century Russia, where even dictatorship is a reality show Professional killers with the souls of artists, would-be theater directors turned Kremlin puppet-masters, suicidal supermodels, Hell's Angels who hallucinate themselves as holy warriors, and oligarch revolutionaries: welcome to the wild and bizarre heart of twenty-first-century Russia. It is a world erupting with new money and new power, changing so fast it breaks all sense of reality, home to a form of dictatorship-far subtler than twentieth-century strains-that is rapidly rising to challenge the West. When British producer Peter Pomerantsev plunges into the booming Russian TV industry, he gains access to every nook and corrupt cranny of the country. He is brought to smoky rooms for meetings with propaganda gurus running the nerve-center of the Russian media machine, and visits Siberian mafia-towns and the salons of the international super-rich in London and the US. As the Putin regime becomes more aggressive, Pomerantsev finds himself drawn further into the system. Dazzling yet piercingly insightful, Nothing Is True and Everything Is Possible is an unforgettable voyage into a country spinning from decadence into madness.

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254

Publisher

PublicAffairs

Published Date

ISBN 10

1610394569

ISBN 13

9781610394567

Book's by Peter Brusov

The Brusov–Filatova–Orekhova Theory of Capital Structure

The Brusov–Filatova–Orekhova Theory of Capital Structure

Collective Excitations in Unconventional Superconductors and Superfluids

Collective Excitations in Unconventional Superconductors and Superfluids

The Brusov–Filatova–Orekhova Theory of Capital Structure

The Brusov–Filatova–Orekhova Theory of Capital Structure

Modern Corporate Finance, Investments and Taxation

Modern Corporate Finance, Investments and Taxation

Generalized Modigliani–Miller Theory

Generalized Modigliani–Miller Theory

Modern Corporate Finance, Investments and Taxation

Modern Corporate Finance, Investments and Taxation

The Superfluid Phases of Helium 3

The Superfluid Phases of Helium 3

Modern Corporate Finance, Investments, Taxation and Ratings

Modern Corporate Finance, Investments, Taxation and Ratings

Ratings

Ratings

Generalized Modigliani–Miller Theory

Generalized Modigliani–Miller Theory

Nothing Is True and Everything Is Possible

Nothing Is True and Everything Is Possible

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