Valuation of lease contracts: an analysis of the lease-or-buy decision

Young, Colin (1982) Valuation of lease contracts: an analysis of the lease-or-buy decision. Doctoral thesis, University of London: London Business School.

Abstract

This study is primarily concerned with valuing the financial advantages to leasing. A number of key Issues in lease evaluation are subjected to theoretical examination to provide the basis for the development of an evaluation model. The impact of delays in the payment of tax on the valuation process are exami ned. A lease evaluation model is developed and used to show the sensitivity of lease values to certain parameters. Further concerns of the study are the effects of the use of incorrect valuation techniques and the economics of the UK lease market.