---
title: Valuation of Levered Equity and Debt Shield
url: https://www.ml-quant.com/papers/ssrn/4765068/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4765068
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4765068
featured: 2024-03-20
citations: unknown
topic: Econometrics & Forecasting
---


# Valuation of Levered Equity and Debt Shield

The note argues that discounting the debt tax shield at the cost of debt capital gross of corporate tax has several advantages, including not needing to forecast speculative tax shields due to future net borrowings.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4765068
- Identifier: SSRN 4765068
- Released: 2023-07-10
- First featured: Quant Letter No. 41 (2024-03-20): https://www.ml-quant.com/issues/2024-03-20/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Econometrics & Forecasting

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