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SSRN Electronic Journal, 2005
The estimation of corporate capital costs is complicated by many practical issues that create numerous degrees of freedom and lead to wide-ranging results. We provide pragmatic solutions including: * A global market risk premium (MRP) of about 5%, based on historical data, market expectations, and a review of the literature * Several methods to derive ...
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The estimation of corporate capital costs is complicated by many practical issues that create numerous degrees of freedom and lead to wide-ranging results. We provide pragmatic solutions including: * A global market risk premium (MRP) of about 5%, based on historical data, market expectations, and a review of the literature * Several methods to derive ...
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SSRN Electronic Journal, 2012
WACC has traditionally been used as a measure of the cost of capital for companies and as a discount rate of the future company's cash flows for valuation purposes. The WACC, especially for "distressed" companies, can play a key role in determining the efficiency of the restructuring framework for companies heading into bankruptcy.
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WACC has traditionally been used as a measure of the cost of capital for companies and as a discount rate of the future company's cash flows for valuation purposes. The WACC, especially for "distressed" companies, can play a key role in determining the efficiency of the restructuring framework for companies heading into bankruptcy.
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WACC as the touchstone performance indicator
International Journal of Contemporary Hospitality Management, 2008PurposeThe purpose of this paper is to propose a simple framework to help practitioners to analyze and evaluate their performance more accurately and easily from the perspective of value adding concept.Design/methodology/approachThe proposed framework separates management and operations into two different functions in the flows of capital investment ...
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WACC Is Not an Expected Return of the Levered Firm
SSRN Electronic Journal, 2002The model of Modigliani and Miller is one of the cornerstones of modern finance. In their model a tax system generates advantages from debt financing that can be valued using the weighted average cost of capital. Although widely used the concept of cost of capital is usually loosly defined: we provide a simple binomial model showing the ...
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Fuzzy IRR with Fuzzy WACC and Fuzzy MARR
2012In this paper, several uncertainties are considered for investment acceptability decision by IRR method. First, some parameters in weighted average cost of capital (WACC) equation are assumed to be fuzzy numbers, a fuzzy WACC is obtained, and defuzzified by t-norm and t-conorm fuzzy relations.
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2012
Abstract: - This article shows the weighted average capital cost being dynamically modeled. The model includes entry independent variables that can be freely modeled (inflation, financial stability, Central Bank rate, expected profitability of banks, tax rate, risk-free interest rate, beta coefficient) as well as dependent ones (cost of foreign capital,
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Abstract: - This article shows the weighted average capital cost being dynamically modeled. The model includes entry independent variables that can be freely modeled (inflation, financial stability, Central Bank rate, expected profitability of banks, tax rate, risk-free interest rate, beta coefficient) as well as dependent ones (cost of foreign capital,
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Private firms, corporate investment and the WACC: evidence from France
European Journal of Finance, 2023Juan Carluccio
exaly