Category Archives: Uncategorized

Debt Is Not Cheaper Than Equity


One of the most important questions for students of corporate finance has to do with whether value can be created on the right-hand side of the balance sheet. Earlier I pointed out why value cannot be created from cash dividend payments, share buybacks and even from splitting the shares. It is time now to take […]

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No value from the right-hand side of the balance sheet?

No value from the right hand side of the balance sheet - Joel Stern - Stern Learning Systems

At almost all business schools around the world, the one thing students can expect for sure is that their professors will tell them in corporate finance, investments, and even financial strategy, that significant value can be created for shareholders in a number of different ways, all on the right-hand side of the balance sheet. Of […]

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