Relevant bibliographies by topics / WACC

Contents

  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Academic literature on the topic 'WACC'

Author: Grafiati
Published: 4 June 2021
Last updated: 14 June 2025

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles

Select a source type:

Consult the lists of relevant articles, books, theses, conference reports, and other scholarly sources on the topic 'WACC.'

Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.

You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.

Journal articles on the topic "WACC"

1

Lobe, Sebastian. "Caveat WACC: Pitfalls in the use of the weighted average cost of capital." Corporate Ownership and Control 6, no. 3 (2009): 45–52. http://dx.doi.org/10.22495/cocv6i3p4.

Full text
Abstract:
In Discounted Cash Flow valuations, the WACC approach is very popular. Therefore, knowing which limitations the concept inherits is essential. The objective of this paper is thus twofold: First, it is clarified that a constant WACC rate must fail if the implied leverage ratio is time-varying. This seems to be the rationale for defining a nonlinear WACC (NLWACC). However, the NLWACC appears to be rather artificial when allowing for time-varying WACCs. Second, although the NLWACC approach is further amplified in this paper, it must be emphasized that this approach is, even then, applicable only under specific conditions while a time-varying WACC is still able to provide reliable results. In conclusion, the WACC approach is a valid workhorse whose results can be economically interpreted.
APA, Harvard, Vancouver, ISO, and other styles
2

Tham, Joseph, and Ignacio Vélez-Pareja. "Diferencias entre WACC deflactado y WACC real: use el deflactado." Cuadernos Latinoamericanos de Administración 7, no. 13 (2016): 7–13. http://dx.doi.org/10.18270/cuaderlam.v7i13.1163.

Full text
Abstract:
artículo de reflexiónEn un mundo con impuestos, hay una pequeña discrepancia entre el WACCDef WACC deflactado y el wacc real. Esto se debe al factor (1-T) que se encuentra en la expresión estándar para el WACC aplicado al flujo de caja libre (FCF). Comparamos diferentes enfoques para la valoración de los flujos de caja nominales y reales con el 1) Costo Nominal Promedio Ponderado del Capital, WACC, 2) con el WACC real, wacc, 3) con el WACC sin deflactar, WACCInf y 4) con el WACC deflactado, WACCDef. Los flujos de caja se derivan de los estados financieros que se han construido con los precios nominales. Como conclusión general o consistencia en la valoración, tenemos que usar el WACC deflactado en vez del WACC real para descontar los flujos de dinero real, y el WACC nominal a los flujos nominales de descuento por pronto pago.
APA, Harvard, Vancouver, ISO, and other styles
3

Gils, Martijn, and Dirk Swagerman. "Toepassing van de WACC in de woningcorporatiesector." Maandblad Voor Accountancy en Bedrijfseconomie 89, no. 1/2 (2015): 46–54. http://dx.doi.org/10.5117/mab.89.31240.

Full text
Abstract:
In hun artikel ‘Regulering van rendementen - snappen we het wel echt?’ belichten Boot en Ligterink de belangrijkste misvattingen over het gebruik van de WACC-methodologie voor het bepalen van vermogenskosten van gereguleerde ondernemingen (Boot & Ligterink, 2011). De parlementaire enquête woningcorporaties naar misstanden in de sector roept de vraag op of de WACC-methodologie ook op woningcorporaties kan worden toegepast. Voor de juiste toepassing van de WACC binnen de woningcorporatiesector dienen keuzes te worden gemaakt om invulling te geven aan een aantal parameters. De voordelen van toepassing van de WACC, keuzemogelijkheden, overwegingen en praktische alternatieven worden in dit artikel verkend.
APA, Harvard, Vancouver, ISO, and other styles
4

Grinter, Rebecca E. "WACC'99 tutorials." ACM SIGSOFT Software Engineering Notes 24, no. 2 (1999): 239–40. http://dx.doi.org/10.1145/295666.295697.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Farida, Yuniar. "Pengembangan Model Fuzzy Project Evaluation Untuk Analisis Kelayakan Finansial Pendirian Pabrik Baru." Jurnal Matematika "MANTIK" 1, no. 1 (2015): 22. http://dx.doi.org/10.15642/mantik.2015.1.1.22-30.

Full text
Abstract:
Untuk rencana pembangunan suatu pabrik baru, aspek finansial merupakan aspek terpenting dalam evaluasi kelayakannya. Dikatakan demikian, karena sekalipun aspek lain tergolong layak, jika studi aspek finansial memberikan hasil yang tidak layak, maka usulan proyek akan ditolak karena tidak memberikan manfaat ekonomi. Dalam penelitian ini Net Present Value (NPV) digunakan sebagai metode evaluasi kelayakan finansial rencana pendirian pabrik PT. X. Dalam perhitungan NPV, salah satu faktor yang krusial adalah tarif diskonto atau discount rate yang berlaku pada masa pengembalian investasi suatu proyek. NPV suatu proyek harus dihitung dengan discount rate konstan sampai masa pengembalian investasi, meski pada kenyataannya faktor – faktor yang mempengaruhi discount rate setiap tahun tidak selalu sama, akibatnya nilai NPV menjadi samar (fuzzy). Untuk mengatasi hal tersebut, maka dilakukan suatu pemodelan untuk mendekati nilai discount rate yang tepat. Dalam penelitian ini discount rate dihitung berdasarkan nilai WACC (Weighted Average Cost of Capital) yang merupakan gabungan dari struktur modal, yaitu hutang dan ekuitas. Untuk memperoleh nilai WACC yang tepat, dilakukan pendekatan dengan menggunakan Triangular Fuzzy Number (TFN). Adapun penggunaan fuzzy dilakukan karena WACC mengandung unsur ketidakpastian yang tinggi, yang bisa membuat perhitungan WACC dengan metode konvensional menjadi samar/kabur. Dari hasil perhitungan menggunakan TFN, diperoleh nilai WACC sebesar 13.64 % dan menghasilkan NPV sebesar 6,430,464,000,000. Sedangkan nilai WACC deterministik yang dihasilkan evaluator sebesar 13.72 % dan menghasilkan NPV sebesar 6,358,310,540,000
APA, Harvard, Vancouver, ISO, and other styles
6

Nurwulandari, Andini, Hasanudin Hasanudin, and Burhan Artardo. "STRATEGY FOR THE FORMATION OF OPTIMAL CAPITAL STRUCTURE WITH SWOT ANALYSIS IN PHARMACEUTICAL SUBSECTORS COMPANIES." JABE (Journal of Applied Business and Economic) 7, no. 3 (2021): 388. http://dx.doi.org/10.30998/jabe.v7i3.9840.

Full text
Abstract:
<p><em>This study aims to determine the optimal capital structure formation in pharmaceutical sub-sector companies during the period 2014 - 2019 by analyzing profitability, dividend policy, and the SWOT matrix model by analyzing strengths, weaknesses, opportunities, and threats and being the basis for formulating various alternatives. These strategies can be carried out by company management. The company's profitability is not optimal; the company can still distribute dividends. And the results of the study illustrate that the capital structure of the pharmaceutical sub-sector company is not yet optimal. The average proportion of long-term debt capital structure of pharmaceutical sub-sector companies is 18.43% debt and 81.57% equity. Calculation of company value from 2014 - 2019 using the Modigliani Miller approach with a debt proportion of 0% - 100% shows that the highest company value of pharmaceutical sub-sector companies is in the composition of 30% debt and 70% equity. The total WACC averages 47% of the debt. By producing a WACC of 1.92% - 16.89% with a total average WACC of 10%. By considering the WACC, it is concluded that the optimal capital structure for the average pharmaceutical sub-sector company is in the composition of 30% to 60% of the debt.</em><em> </em><em>Meanwhile, the average WACC is 11.10%, and with financial distress, the average WACC value is 10%. Based on considering the company value and WACC above, the capital structure of the pharmaceutical sub-sector company is not optimal. The optimal capital structure will result in high Firm Value and the lowest cost of capital. The results of this study have implications for financial performance, capital structure, firm value, the weighted average cost of capital (WACC), and SWOT analysis, which need to be optimized to achieve optimal capital structure.</em><em></em></p>
APA, Harvard, Vancouver, ISO, and other styles
7

Rizqi, M. Nur. "Pengaruh WACC terhadap Nilai Perusahaan (Studi Kasus pada PT. Hanjaya Mandala Sampoerna Tbk. dan PT. Gudang Garam Tbk.)." Jurnal Ilmiah Binaniaga 6, no. 02 (2010): 71. http://dx.doi.org/10.33062/jib.v6i02.223.

Full text
Abstract:
The company requires funds that derived to debt, and own capital. Sources of funds used by company must be able to increase the value of the company. Increasing the value of the company can maximize prosperity stakeholder include stakeholders to wards the company, namely that is employees, management, creditor, supplier, communities, companies, government, and stockholder. Target of this research is for know how influence of proportion capital structure to WACC at PT. Hanjaya Mandala Sampoerna, Tbk and PT. Gudang Garam, Tbk and for know how much influence WACC to company value at PT. Hanjaya Mandala Sampoerna, Tbk and PT. Gudang Garam, Tbk. Analysis method used by is correlation coefficient for the relationships between the variables and coefficient determination to measure the closeness relationships between the variable and regression coefficient to measure the influence of the free variable and bound variables for the ratio analysis to know level of proportion each variable. Research Result indicates that at to test t at PT, Hanjaya Mandala Sampoerna, Tbk is capital structure proportion haves significant influence on the WACC with t calculate bigger than t tables or 3.591 bigger than 2.776 . For WACC to value of share price with t calculate bigger than t tables 3.624 bigger than 2.776 have significant influence. While PT. Gudang Garam, Tbk is capital structure proportion haves significant influence to WACC with t calculate bigger than t tables or 3.917 bigger than 2.776 . For WACC to value of share price with t calculate bigger than t tables or -1.640 not have influence that is not significant.
APA, Harvard, Vancouver, ISO, and other styles
8

Gelo, Tomislav, Željko Vrban, and Dalibor Pudić. "Allowed Revenue of Network System Operators in the Croatian Energy Sector and Interest Rate Changes on the Croatian Capital Market." Zagreb International Review of Economics and Business 22, s2 (2019): 73–91. http://dx.doi.org/10.2478/zireb-2019-0028.

Full text
Abstract:
Abstract The energy sector is characterized by market and monopoly activities. Monopoly activities include network activities, transmission and distribution of electricity, and transport and distribution of natural gas. For this reason, the revenue of the network activities is defined as allowed income, and it is under the control of the national energy regulator. In Croatia, this is the Croatian Energy Regulatory Agency. The allowed revenues of the network system operator in the Croatian energy sector are defined by the methodologies for individual network activities, which are based on the method of eligible costs. Network activities are usually capital-intensive activities. Capital cost is an element of the eligible cost method and is accounted for as a weighted average cost of capital (WACC). WACC affects the allowed revenue of the network system operator and the network tariff. It depends on the interest rates on debt capital, the risk-free rate, the market risk premium and the corporate tax rate. Changing the interest rate on the capital market, which also depends on the credit risk of the country, affects both the change in WACC and the change of tariffs for transport / transmission of energy. Amortization and operating expenses of the network operator, approved by the energy regulator, also have a significant impact on allowed revenues. The impact of the WACC change on the allowed revenue and network tariffs of network system operators has a different impact on the network tariffs, which depends on the structure of the eligible costs of a particular network system operator. Changing WACC affects the changes in tariffs of the network system operator. The aim of the paper is to determine how an interest rate change affects the WACC and how the change in WACC affects the change in the allowed revenue and the network tariff of the gas transport operator and the transmission of electricity in Croatia. The paper will analyse the tariffs of electricity transmission and natural gas transport in Croatia and compare them with those in the European Union.
APA, Harvard, Vancouver, ISO, and other styles
9

Grinter, Rebecca E. "WACC'99 workshop program." ACM SIGSOFT Software Engineering Notes 24, no. 2 (1999): 237–38. http://dx.doi.org/10.1145/295666.295696.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Vélez Pareja, Ignacio. "El costo promedio ponderado de capital (wacc) para los cálculos de valuación de empresas: una respuesta." Cuadernos Latinoamericanos de Administración 7, no. 12 (2016): 31–35. http://dx.doi.org/10.18270/cuaderlam.v7i12.1173.

Full text
Abstract:
Trabajo de investigaciónLlano-Ferro (2009) propone una solución para evitar “errores significativos” cuando el Costo Promedio Ponderado de Capital (WACC) “obtenido por la fórmula general conduce a errores significativos en el valor presente neto de los cálculos de la empresa, particularmente en aquellas que se aplican a perpetuo flujo de efectivo serie”. En este trabajo se muestra que no hay “errores significativos”, pero sí un mal uso de la fórmula y el cálculo incorrecto de los valores.El Costo Promedio Ponderado de Capital (WACC) se utiliza en la financiación de varias aplicaciones, incluyendo el análisis del presupuesto de capital, los cálculos de EVA®, y la valoración de empresas. WACC obtenido por la fórmula general conduce a errores significativos en el valor presente neto de los cálculos de la firma, particularmente en las que se aplican series perpetuas de flujo de caja. El presente documento identifica el problema, y ofrece alternativas, y las fórmulas precisas para obtener el WACC para el cálculo de valuación de empresas
APA, Harvard, Vancouver, ISO, and other styles

Dissertations / Theses on the topic "WACC"

1

Peel, Carl-Johan, and Jacob Rossheim. "JCJ-Metoden : En differentiering av Scanias WACC." Thesis, Örebro universitet, Handelshögskolan vid Örebro Universitet, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-23685.

Full text
Abstract:
Scania’s discount rate - the return requirement of investments - refers to Scania’s WACC or weighted average cost of capital. The capital markets return requirement on equity and the credit market interest cost of borrowing is weighted to become the single discount rate, the WACC. The purpose of this study is to investigate which asset pricing model of APT and CAPM Scania should use in their WACC calculations. The company now uses a group WACC of 11 percent which is used in all company levels. The problem with this is that investments in low-risk markets will be discounted by the same factor as high-risk markets, which can result in a misleading NPV. The objective is to create a differentiated WACC which gives an opportunity to compare investments with different risk profiles. The study proposes the best fitting model, given by evaluating APT and CAPM in a Scania context. To achieve a differentiated WACC a new method is created, The JCJ-Method. The method uses an industry index as a benchmark of Scania. The results indicate that APT is the better model for Scania in the differentiating context.<br>Carl-Johan Peel
APA, Harvard, Vancouver, ISO, and other styles
2

Wildi, Philip-Markus. "The Weighted Cash Conversion Cycle in Networks Potential for WACC-Optimization /." St. Gallen, 2008. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/01655315002/$FILE/01655315002.pdf.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Mahmoudi, Sabir, and Anton Johansson. "Den redovisade kapitalkostnaden i svenska och holländska börsnoterade bolag." Thesis, Högskolan i Gävle, Avdelningen för ekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-12784.

Full text
Abstract:
Syfte: Syftet med vår studie är att studera om kapitalkostnaden redovisas och hur den skiljer sig mellan svenska och holländska bolag, samt undersöka vilka faktorer som påverkar den. Metod: Studien har genomförts med en kvantitativ metod, syftet med undersökningen uppfylls genom en deduktiv ansats. I undersökningens empiri ingår observationer av 488 årsredovisningar. I sekundärdata ingår de fyra oberoende variablerna land, år, storlek och soliditet. Multipel regressionsanalys, samt linjär sannolikhetsmodell har använts. Resultat &amp; slutsats: Den multipla regressionsanalysen visar ett signifikant samband mellan den beroende variabeln, vilken procentsats kapitalkostanden redovisas till, och oberoende variablerna storlek och soliditet. Större företag, redovisar en lägre kapitalkostnad, företag med högre soliditet redovisar en högre kapitalkostnad. Den linjära sannolikhetsmodellen visar på ett signifikant samband mellan den beroende variabeln, om kapitalkostanden redovisas och de oberoende variablerna år och land. Företagen var bättre på att redovisa kapitalkostnaden år 2008, jämfört med 2005. Samtidigt som de svenska företagen var bättre på att redovisa kapitalkostnaden 2005, jämfört med de holländska företagen. Förslag till vidare forskning: Vi finner det intressant att göra samma undersökning, men mellan andra årtal. Det skulle också vara intressant att undersöka sambandet mellan kapitalkostnad och andra oberoende variabler, som ägarstruktur eller goodwill i förhållande till eget kapital. Uppsatsens bidrag: Det kan vara intressant för standardsättarna IFRS att se hur deras regelverk efterlevs. Samt analytiker som analyserar aktiemarknaden.
APA, Harvard, Vancouver, ISO, and other styles
4

Kopečková, Markéta. "Ocenění podniku/závodu." Master's thesis, Česká zemědělská univerzita v Praze, 2017. http://www.nusl.cz/ntk/nusl-315905.

Full text
Abstract:
The aim of the diploma thesis is to estimate a value of the subject company based on the purpose of the valuation and on a selection of appropriate valuation methods. The subject company is Rodinný pivovar Bernard a.s. The valuation date is set on 31. 12. 2015. The diploma thesis is split into two parts, the theoretical one and practical one. The first chapter of the theoretical part deals with the valuation theory. The chapter describes the subject of a valuation lists the common purposes of performing a valuation and also deals with main assumptions of valuation. The theoretical bases described in the first part are reflecting the needs of the practical part. Based on the results of a strategic and financial analysis in the practical part a long-term perspective of the subject company is evaluated and appropriate valuation methods are selected. The estimate of the company s value was based on utilizing both income approach and market comparison approach. The conclusion of the thesis contains a summary of the valuation process and discussion on the utilized valuation methods.
APA, Harvard, Vancouver, ISO, and other styles
5

Gergelyová, Jana. "Ocenenie spoločnosti SYNER, s. r. o." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-192742.

Full text
Abstract:
The subject of this thesis is to analyze the financial health of the company Syner, and determine the market value of the company based on publicly available information. The value of the company should provide important information for owners, whether access to the proposed takeover of foreign investors or reject the offer. The theoretical part of the thesis describes the processes and methodology of valuation, then in the practical part is introduction of company, financial and strategic analysis and valuation of the company itself.
APA, Harvard, Vancouver, ISO, and other styles
6

Reis, Caimi Franco. "Generalização do CAPM aplicada ao cálculo do custo de capital do setor de telefonia fixa do Brasil." Universidade de São Paulo, 2006. http://www.teses.usp.br/teses/disponiveis/3/3139/tde-22042007-120807/.

Full text
Abstract:
Neste ano a Anatel começou a adotar um novo modelo para as tarifas de interconexão das diversas áreas de telecomunicações do Brasil. Nesse modelo o WACC e o CAPM têm um papel central no cálculo da remuneração do capital empregado em cada setor. No caso do CAPM, entretanto, há muitas controvérsias sobre a sua aplicabilidade a países emergentes. ESTRADA (2002, 2003), por exemplo, encontrou resultados mais plausíves para esses países utilizando o modelo D-CAPM, uma variação do CAPM baseada no risco Downside. Sabe-se, por outro lado, que o CAPM é uma composição média entre os riscos Downside e Upside. Neste sentido, o objetivo deste trabalho é propor uma generalização do CAPM (Gw-CAPM), baseada em uma ponderação dos riscos Downside e Upside, e analisar a existência de modelos intermediários que estimem melhor o retorno do mercado local de telefonia fixa do Brasil, com vistas à nova orientação a custos adotada. Outro objetivo é elaborar uma metodologia específica para a telefonia fixa e aplicar o Gw-CAPM no cálculo do custo de capital próprio, analisando se há ou não diferenças significativas no resultado final do custo de capital do setor. Na avaliação do poder de estimação dos modelos utilizou-se o índice de Jensen e o REQM. Mostra-se, assim, que realmente há uma determinada combinação entre os riscos Downside e Upside que estima melhor o retorno das operadoras do setor e do mercado de telefonia fixa como um todo. Além disso, conclui-se que há diferenças significativas no cálculo do custo de capital quando o modelo utilizado é o Gw-CAPM.<br>This year Anatel began to adopt a new model to the interconnection tariffs to the several telecommunication areas of Brazil. According to this model, the WACC and the CAPM have a central role on determining the remuneration of the investment on each sector. However, there are much controversy about the applicability of CAPM to the emergent countries. For example, Estrada (2002, 2003) found more reasonable results to these countries using the D-CAPM, a variation of CAPM based on the Downside risk. It is also known that the CAPM is an average composition between the Donwside and Upside risks. The purpose of this work is to propose a generalization of the CAPM (Gw-CAPM), based on the weight of the Downside and Upside risks and analyse the existence of intermediate models that can evaluate more precisely the return of the brazilian local market of fixed telephony, aiming the new cost orientation adopted. Other objective is to build a specific methodology to the fixed telephony and apply the Gw-CAPM on the determination of the own capital cost, verifying whether there are significant differences on the final result of the sector capital cost. In the evaluation of the valuation power of the models, the Jensen index and the REQM were used. It is shown, therefore, that there is really a certain combination between the Downside and the Upside risks that evaluates more accurately the return of the sector operating companies and the fixed telephony market as a whole. In addition to this, we conclude that there are significant differences on determining the cost of capital when the model used is the Gw-CAPM.
APA, Harvard, Vancouver, ISO, and other styles
7

Bobone, Maria Francisca Barradas Pinto Basto. "Corporate Finance : Modelos de avaliação de Empresas." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/10251.

Full text
Abstract:
Mestrado em Matemática Financeira<br>Durante o período de Estágio na ASK integrei diversas fases de um projecto de avaliação em Corporate Finance. Acompanhei dois projectos de avaliação: de uma empresa de criação de peixe e de parte de um grupo de empresas angolano que actua em diversos sectores. Todas estas avaliações foram baseadas maioritariamente em três métodos - Múltiplos de Mercado, Múltiplos de Transacção e Discounted Cash Flows (DCF). Sendo o último, pela capacidade de integrar o potencial futuro da mesma, o principal método utilizado. Para a avaliação do primeiro caso foi utilizado o método dos DCF, registando-se um resultado final de $2,58M e um valor de Equity (valor encontrado subtraindo o valor da Dívida Financeira Liquida) de $2,63M. Foi também efectuada uma análise de sensibilidade ao modelo que permitiu quantificar o impacto da alteração de algumas variáveis essenciais na avaliação. No segundo caso, devido à sua estrutura, o valor final foi encontrado pela soma das partes. Para cada empresa foi escolhido o método de avaliação que se adequava melhor à sua estrutura e dimensão. O resultado desta avaliação situou-se no intervalo entre $68,7M e $72,1M. A análise destes dois casos ilustra a versatilidade do método DCF pois permitiu fazer a avaliação de negócios de características diversas. O método utilizado permitiu ainda perspectivar diferentes cenários, ou seja, fazer análises de sensibilidade, o que se revela fundamental para a avaliação do modelo na sua globalidade - bastou uma variação de 10% nas vendas para um efeito de menos 30% no valor da Empresa.<br>During the period of internship, done in ASK, integrated in Corporate Finance, I followed the different stages of a valuation of a Company. I followed in particular two valuation projects: a fish farming company and a part of a group of Angolan companies. All these valuations were based on three methods: Market Multiples Method, Transaction Multiples Method and Discounted Cash Flows (DCF). This last one is the most important because of its capacity to integrate, in the final value, the growth potential of the firm. For the first case we used the DCF method and it came to an end result of $2,58M and an Equity Value (this is found by subtracting the Value of the Net Financial Debt) of $2,63M. It was also applied a sensitivity analysis to the model to quantify the impact of changing some key values in the valuation. In the second case, due to its structure, the final value was found by the sum of parts. For each company was chosen a method that better suited its structure and dimension. The final result of this valuation was between $68,7M e $72,1M. With these two case-studies we detected the versatility of DCF method because it can evaluate different business with different characteristics. The possibility to simulate different scenarios is crucial to the global perception of the Valuation - Changing only 10% in Sales has a 30% reduction on the final value of the company.
APA, Harvard, Vancouver, ISO, and other styles
8

Engwall, Ludvig, and Martin Bjerring. "Optimal Credit Rating with Regard to Capital Structure : A Mixed Method Study on the Swedish Real Estate Market." Thesis, KTH, Fastigheter och byggande, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-298054.

Full text
Abstract:
In Sweden, the demand for official credit ratings has historically not been as substantial as in other parts of the world. This due to the fact that Swedish banks up until recently provided the market with shadow ratings. The European Securities and Markets Authority (ESMA) started investigating shadow ratings in August 2016 and decided that Nordic banks issuing shadow ratings were against the new directives because they were not registered as rating agencies. The Nordic corporate bond market has grown rapidly since the financial crisis and many bond issuers have avoided the organizational cost associated with obtaining and maintaining a credit rating. In 2016, more than half of Nordic bonds were issued without a credit rating, while today, the majority of Nordic bonds are issued with credit rating. Capital structure and specifically the goal of locating the optimal capital structure has, since the breakthrough of Modigliani and Miller in 1958, been the center of attention for a lot of research and the issue is of great interest for both academicians and practitioners. In practice, there are many factors that affect the decision of what leverage and capital structure a company decides to aim for. Among the factors are growth opportunities, firm size and profitability. With the base in corporate financial theory, the purpose of this study is to explore what factors that influence Swedish real estate companies regarding their decisions of capital structure and credit rating. With the method of semi-structured interviews and quantitative simulations, the study aims to understand why Swedish real estate companies are divided in their strategies about credit ratings and to explore if the firms have suboptimal credit ratings with respect to their capital structure. The quantitative part indicates that the optimal credit rating grade is A- with regard to the capital structure, for the examined Swedish real estate firms, under the current market conditions. The uncertainty of the optimal credit rating grade is displayed in a sensitivity analysis. The qualitative part of the study indicates that the rating of A- could plausibly be the optimal credit rating level and that it most likely is above the investment grade. The qualitative part further sheds light on the strategies of Swedish real estate firms and gives the market and investors insight to understand the underlying factors for why firms aim for different ratings. One can conclude that leverage and weighted average cost of capital are important factors when it comes to decisions regarding credit rating grades, but is often trumped by the quality label of credit ratings, the demand for different grades, the signals a upgrade/downgrade sends to the market and the possibility to reach the rating institutes requirements.<br>I Sverige har efterfrågan på officiella kreditbetyg historiskt sett inte varit lika stor som i andra delar av världen. Detta på grund av att svenska banker fram till nyligen försåg marknaden med skuggratings. Europeiska värdepappers- och marknadsmyndigheten (ESMA) började undersöka skuggratings i augusti 2016 och beslutade att nordiska banker som utfärdade skuggratings gick emot de nya direktiven eftersom de inte var registrerade som kreditvärderingsinstitut. Den nordiska obligationsmarknaden har vuxit snabbt sedan finanskrisen och många fastighetsbolag har undvikit kostnader kopplade till att erhålla och underhålla ett kreditbetyg. Under 2016 emitterades mer än hälften av nordiska obligationer utan kreditbetyg, medan idag är de flesta nordiska obligationer emitterade med kreditbetyg. Kapitalstruktur och specifikt målet att hitta den optimala kapitalstrukturen har sedan Modigliani och Millers genombrott 1958 varit centrum för mycket forskning och frågan är av stort intresse för både akademiker och utövare. I praktiken finns det många faktorer som påverkar beslutet om vilken belåningsgrad och kapitalstruktur som ett företag bestämmer sig för. Bland de påverkande faktorerna är tillväxtmöjligheter, företagsstorlek och lönsamhet. Med utgångspunkt i företagsfinansiella teorier, är syftetmed denna studie att undersöka vilka faktorer som påverkar svenska fastighetsbolag beträffande deras beslut om kapitalstruktur och kreditbetyg. Med metod i form av semistrukturerade intervjuer och kvantitativa simuleringar syftar studien till att förstå varför svenska fastighetsbolag har olika strategier kring kreditbetyg, samt att undersöka om företagen har suboptimala kreditbetyg med hänsyn till deras kapitalstruktur. Den kvantitativa delen indikerar att det optimala kreditbetyget är A-, med hänsyn till kapitalstruktur för de undersökta svenska fastighetsföretagen, under nuvarande marknadsförhållanden. Osäkerheten kring det optimala kreditbetyget visas i en känslighetsanalys. Den kvalitativa delen av studien indikerar att A- troligtvis kan vara den optimala kreditbetygsnivån samt att den optimala nivån högst sannolikt ligger över investment grade. Den kvalitativa delen belyser även de svenska fastighetsbolagens strategier och förser marknaden och investerare med insyn om de bakomliggande faktorerna till varför företag strävar efter olika betyg. Slutsatsen är att belåningsgrad och kapitalkostnader är viktiga faktorer när det gäller beslut om kreditbetyg, men att det ofta prioriterars efter kvalitén associerad med kreditbetyget, efterfrågan på olika kreditbetyg, signalerna en uppgradering / nedgradering sänder till marknaden och om företaget kan nå kreditvärderingsinstitutets krav.
APA, Harvard, Vancouver, ISO, and other styles
9

Cuya, Pérez Patricia Mónica. "La elección de una tasa de descuento." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/628118.

Full text
Abstract:
El principal objetivo de la presente investigación es promover, intensificar, dilucidar qué criterios deben considerar los inversionistas para estimar de manera adecuada la tasa de descuento a utilizar, en función a los diversos sectores económicos, el entorno en la que se desarrollará la actividad a invertir, además de considerar el plazo del proyecto. Asimismo, es imprescindible recalcar que, a pesar de no existir en la actualidad una tasa de descuento determinante en el mercado, es vital y preponderante que los inversores, evaluadores, etc., estimen tasas reales, aterrizadas en función a la información derivada del análisis del proyecto o inversión a realizar, más aún, tomando en cuenta el impacto que dichas decisiones tendrán en el ámbito de desarrollo tanto económico para el inversionista y sobre todo al medio ambiente para las futuras generaciones. En ese sentido, es preciso considerar que las valuaciones de proyectos de inversión, de adquisición de bienes o de activos debe de contemplar variables económicas como: VPN, COSC, CAPM, WACC o WARA, las mismas que deben ser ajustadas al riesgo, según el tipo de proyecto o de adquisición, tomando como modelos referentes a los mercados desarrollados, variables que si bien ayudan a mitigar riesgo, también contribuyan a valorar y coberturar los daños al medio ambiente, dado que, las repercusiones productos de las decisiones tomadas en el tiempo han generado perjuicios calamitosos a los recursos naturales y al ecosistema, afectando así la herencia para las futuras generaciones, daños que muchas veces a pesar de la cuantificación económica son irreversibles, impacto ocasionados por el sector minero, infraestructura, por la explotación de tala, además de valorar las adquisiciones de medicinas o pruebas para el sector salud en harás del bienestar de la población de un país.<br>The main objective of this research is to promote, intensify, elucidate what criteria investors should consider to estimate adequately the discount rate to be used, depending on the different economic sectors, the environment in which the activity to be developed will be developed, besides considering the term of the project. Likewise, it is essential to emphasize that, although there is currently no significant discount rate in the market, it is vital and preponderant that investors, evaluators, etc., estimate real rates, based on the information derived from the analysis of the project or investment to be made, even more so, taking into account the impact that these decisions will have on the development environment both economically for the investor and especially the environment for future generations. In this sense, it is necessary to consider that the valuations of investment projects, of acquisition of assets or of assets must contemplate economic variables such as: VPN, COSC, CAPM, WACC or WARA, which must be adjusted to the risk, according to the type of project or acquisition, taking as models referring to developed markets, variables that although help to mitigate risk, also contribute to assess and cover the damage to the environment, given that, the repercussions have generated calamitous damages to natural resources and the ecosystem, affecting the inheritance for future generations, damages that often, despite economic quantification, are irreversible, impact caused by the mining sector, infrastructure, exploitation of logging, in addition to assessing the acquisition of medicines or tests for The health sector in the welfare of the population of a country.<br>Trabajo de Suficiencia Profesional
APA, Harvard, Vancouver, ISO, and other styles
10

Matějček, Jakub. "Ocenění podniku Modelárna Liaz, spol. s r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-205555.

Full text
Abstract:
This diploma thesis deals with the valuation of MODELÁRNA LIAZ spol. s r.o. The main business of the company is focused on development, production and construction of components, tools and products for automotive, energy and aerospace industries. The main goal is to estimate the market value of this company with using DCF Entity method. As a supportive method was used method of sector multipliers. The diploma thesis also includes financial and strategic analysis, analysis and forecast of the main value drivers and financial plan for the future.
APA, Harvard, Vancouver, ISO, and other styles

Books on the topic "WACC"

1

ACCE/FES/WACC Workshop (1991 Harare, Zimbabwe). Women in media education: Final report on ACCE/FES/WACC Workshop, Harare, Zimbabwe, 4-7 November, 1991. ACCE, 1991.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
2

International Joint Conference on Work Activities Coordination and Collaboration (1999 San Francisco, Calif.). Proceedings of the International Joint Conference on Work Activities Coordination and Collaboration, WACC '99, February 22-25, 1999, San Francisco, California. ACM Press, 1999.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
3

Ames, Eric S. Waco. Arcadia Pub., 2009.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
4

Ames, Eric S. Waco. Arcadia Pub., 2009.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
5

Selge, Albrecht. Wach: Roman. Rowohlt, 2011.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
6

Latham, Iris. WAAC story. I. Latham, 1986.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
7

Wali, Naʻibi Sulaiman. Dimukuradiyya, wacce? Islamic Foundation of Nigeria, 1994.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
8

Wach, Rudi. Rudi Wach. A arte Studio Invernizzi, 2002.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
9

The Waco standoff. ABDO Publishing Company, 2014.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
10

Madej, Bogdan. Głęboką nocą: Walc. Wydawn. Uniwersytetu Marii Curie-Skłodowskiej, 1998.

Find full text
APA, Harvard, Vancouver, ISO, and other styles

Book chapters on the topic "WACC"

1

Schawel, Christian, and Fabian Billing. "WACC." In Top 100 Management Tools. Gabler, 2009. http://dx.doi.org/10.1007/978-3-8349-8185-1_87.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Schawel, Christian, and Fabian Billing. "WACC." In Top 100 Management Tools. Gabler Verlag, 2014. http://dx.doi.org/10.1007/978-3-8349-4691-1_90.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Schawel, Christian, and Fabian Billing. "WACC." In Top 100 Management Tools. Gabler, 2011. http://dx.doi.org/10.1007/978-3-8349-6605-6_90.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Schawel, Christian, and Fabian Billing. "WACC." In Top 100 Management Tools. Gabler Verlag, 2012. http://dx.doi.org/10.1007/978-3-8349-4105-3_90.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

García, Francisco Javier Población. "The WACC." In Financial Risk Management. Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-41366-2_17.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Pyles, Mark K. "This Is So WACC!" In Applied Corporate Finance. Springer New York, 2013. http://dx.doi.org/10.1007/978-1-4614-9173-6_8.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Pyles, Mark K. "This Is So WACC!" In Applied Corporate Finance. Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-81631-5_8.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Kruschwitz, Lutz, and Andreas Löffler. "Corporate Income Tax: WACC, FTE, TCF, APV." In Springer Texts in Business and Economics. Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-37081-7_3.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Bas, Esra. "Fuzzy IRR with Fuzzy WACC and Fuzzy MARR." In Communications in Computer and Information Science. Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-31724-8_41.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Jain, Shashank Mohan. "waPC." In WebAssembly for Cloud. Apress, 2021. http://dx.doi.org/10.1007/978-1-4842-7496-5_5.

Full text
APA, Harvard, Vancouver, ISO, and other styles

Conference papers on the topic "WACC"

1

Grinter, Rebecca E. "WACC'99 tutorials." In the international joint conference. ACM Press, 1999. http://dx.doi.org/10.1145/295665.295697.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Grinter, Rebecca E. "WACC'99 workshop program." In the international joint conference. ACM Press, 1999. http://dx.doi.org/10.1145/295665.295696.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Jagannathan, Uday Kumar. "FRAMEWORK FOR VALUATION UNDER VARIABLE WACC." In 5th International Scientific Conference ERAZ - Knowledge Based Sustainable Development. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2019. http://dx.doi.org/10.31410/eraz.2019.125.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Niyazbekova, Danna B., and Anna V. Komarova. "Evaluation of the discount rate for oil and gas companies." In Недропользование. Горное дело. Направления и технологии поиска, разведки и разработки месторождений полезных ископаемых. Экономика. Геоэкология. Федеральное государственное бюджетное учреждение науки Институт нефтегазовой геологии и геофизики им. А.А. Трофимука Сибирского отделения Российской академии наук, 2020. http://dx.doi.org/10.18303/b978-5-4262-0102-6-2020-094.

Full text
Abstract:
The aim of the work is to justify the calculation of the discount rate and assess the factors affecting it for oil and gas companies. Based on the results of the study, discount rates for nine oil and gas companies were calculated and compared in three ways: the financial asset valuation model (CAPM), the weighted average cost of capital model (WACC), and the cumulative method. An econometric analysis of the discount rate is carried out.
APA, Harvard, Vancouver, ISO, and other styles
5

Fonseca, Sandra S. "The Impact of WACC Calculation in the Price Cap Regulation Results: The Colombian Case." In 2007 IEEE Power Engineering Society General Meeting. IEEE, 2007. http://dx.doi.org/10.1109/pes.2007.386038.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Brenner, Michael, and Kurt Rohloff. "WAHC'18." In CCS '18: 2018 ACM SIGSAC Conference on Computer and Communications Security. ACM, 2018. http://dx.doi.org/10.1145/3243734.3243882.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Brenner, Michael, Tancrède Lepoint, and Kurt Rohloff. "WAHC'19." In CCS '19: 2019 ACM SIGSAC Conference on Computer and Communications Security. ACM, 2019. http://dx.doi.org/10.1145/3319535.3353554.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

"WACI 2011 committee." In 2011 IEEE Workshop on Affective Computational Intelligence - Part of 17273 - 2011 Ssci. IEEE, 2011. http://dx.doi.org/10.1109/waci.2011.5953156.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

"WACV 2020 Sponsors." In 2020 IEEE Winter Conference on Applications of Computer Vision (WACV). IEEE, 2020. http://dx.doi.org/10.1109/wacv45572.2020.9093422.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Michalevsky, Yan, and Yonatan Winetraub. "WaC." In CCS '17: 2017 ACM SIGSAC Conference on Computer and Communications Security. ACM, 2017. http://dx.doi.org/10.1145/3139324.3139333.

Full text
APA, Harvard, Vancouver, ISO, and other styles

Reports on the topic "WACC"

1

Spencer, W. A. WACC-WTG Review Comment Sheets. Office of Scientific and Technical Information (OSTI), 1991. http://dx.doi.org/10.2172/10156475.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Spencer, W. A. WACC-WTG Review Comment Sheets. Office of Scientific and Technical Information (OSTI), 1991. http://dx.doi.org/10.2172/5120145.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Mead, D. WACR Calibration Report. Office of Scientific and Technical Information (OSTI), 2010. http://dx.doi.org/10.2172/973817.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Widener, KB, and K. Johnson. W-band ARM Cloud Radar (WACR) Handbook. Office of Scientific and Technical Information (OSTI), 2005. http://dx.doi.org/10.2172/1019541.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Erickcek, George, Don Edgerly, Brian Pittelko, et al. Economic Development Strategic Plan for the City of Waco, Texas. W.E. Upjohn Institute, 2014. http://dx.doi.org/10.17848/rpt209.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Covey, C., A. Dai, and R. S. Lindzen. Surface-pressure Tides Simulated by WACCM-1 and CMIP3 / IPCC Climate Models. Office of Scientific and Technical Information (OSTI), 2008. http://dx.doi.org/10.2172/1119896.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Covey, C., A. Dai, R. Lindzen, and D. Marsh. Surface-pressure Tides Simulated by WACCM-1 and CMIP3 / IPCC Climate Models. Office of Scientific and Technical Information (OSTI), 2009. http://dx.doi.org/10.2172/1130043.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Author, Not Given. Nevada National Security Site Waste Acceptance Criteria (NNSS/WAC). Office of Scientific and Technical Information (OSTI), 2016. http://dx.doi.org/10.2172/1464516.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Oji, L. Report on Analyses of WAC Samples of Evaporator Overheads - 2004. Office of Scientific and Technical Information (OSTI), 2005. http://dx.doi.org/10.2172/890158.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

OJI, LAWRENCE. Report on Analyses of WAC Samples of Evaporator Overheads - 2004. Office of Scientific and Technical Information (OSTI), 2004. http://dx.doi.org/10.2172/835582.

Full text
APA, Harvard, Vancouver, ISO, and other styles
We offer discounts on all premium plans for authors whose works are included in thematic literature selections. Contact us to get a unique promo code!

To the bibliography