Relevant bibliographies by topics / WACC (Weighted Average Cost of Capital)

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Academic literature on the topic 'WACC (Weighted Average Cost of Capital)'

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Published: 4 June 2021
Last updated: 4 February 2022

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Journal articles on the topic "WACC (Weighted Average Cost of Capital)"

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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.

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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.
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Vélez-Pareja, Ignacio, and Joseph Tham. "Market value calculation and the solution of circularity between value and the weighted average cost of capital WACC." RAM. Revista de Administração Mackenzie 10, no. 6 (December 2009): 101–31. http://dx.doi.org/10.1590/s1678-69712009000600007.

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Most finance textbooks present the Weighted Average Cost of Capital (WACC) calculation as: WACC = Kd×(1-T)×D% + Ke×E%, where Kd is the cost of debt before taxes, T is the tax rate, D% is the percentage of debt on total value, Ke is the cost of equity and E% is the percentage of equity on total value. All of them precise (but not with enough emphasis) that the values to calculate D% y E% are market values. Although they devote special space and thought to calculate Kd and Ke, little effort is made to the correct calculation of market values. This means that there are several points that are not sufficiently dealt with: Market values, location in time, occurrence of tax payments, WACC changes in time and the circularity in calculating WACC. The purpose of this note is to clear up these ideas, solve the circularity problem and emphasize in some ideas that usually are looked over. Also, some suggestions are presented on how to calculate, or estimate, the equity cost of capital.
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Cala Ibáñez, Geraldine, Erika Noriega Ardila, and Alfonso Enrique Gualdrón López. "El Impacto del WACC (Weighted Average Cost of Capital) en la valoración de empresas." Innovando En La U, no. 9 (December 1, 2017): 95–109. http://dx.doi.org/10.18041/2216-1236/innovando.9.2017.3898.

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El artículo se desarrolla en función de la importancia que tiene el impacto de los métodos para la valoración de empresas, tratando específicamente del WACC; por sus siglas en inglés: Weighted Average Cost of Capital (Promedio Ponderado del Costo de Capital), se ha planteado como interrogante, ¿Cuál es la importancia del WACC (Weighted Average Cost of Capital) en la valoración de empresas Implementando el tipo de investigación descriptivo y mediante la estructura de su fórmula, se pretende exponer la conexión que tienen los diferentes elementos que lo integran, así como la necesidad de identificar los activos que realmente generan flujos de efectivo, es decir, activos de capital, reconociendo a su vez, la forma como estos activos se financian a través de los pasivos y el patrimonio. Los aspectos que se deben considerar a la hora de valorar una empresa son múltiples, ya que el valor varía de acuerdo a las percepciones o a las razones de los interesados, la información, el sector, el contexto y el método empleado, entre otros. La conclusión principal, es que en todo análisis de inversión de una empresa es indispensable un proceso de valoración, debido a la trasferencia implícita de valor, y a la definición de puntos importantes para su normal funcionamiento y el eficiente desarrollo de su actividad.
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Pacheco Mexzon, Raimundo Renaun. "WACC y oportunidades de inversión." Pensamiento Crítico 19, no. 1 (February 18, 2015): 123. http://dx.doi.org/10.15381/pc.v19i1.11024.

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Considerando que los grandes proyectos de inversión de una empresa se financian con un porcentaje de recursos propios y otro porcentaje con recursos de terceros vía deudas, surgió la inquietud de analizar en el período de 1999 al 2010 si una empresa peruana que cotiza en la Bolsa de Valores de Lima mejoró sus oportunidades de inversión. Para esto se determinó el comportamiento de su costo promedio ponderado de capital (WACC: Weighted Average Cost of Capital).
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Garcia, Carlos S., Jimmy Agustin Saravia Matus, and David A. Yepes. "The weighted average cost of capital over the lifecycle of the firm: Is the overinvestment problem of mature firms intensified by a higher WACC?" Corporate Board role duties and composition 12, no. 2 (2016): 96–103. http://dx.doi.org/10.22495/cbv12i2c1art4.

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Firm lifecycle theory predicts that the Weighted Average Cost of Capital (WACC) will tend to fall over the lifecycle of the firm (Mueller, 2003, p. 80-81). However, given that previous research finds that corporate governance deteriorates as firms get older (Mueller and Yun, 1998; Saravia, 2014) there is good reason to suspect that the opposite could be the case, that is, that the WACC is higher for older firms. Since our literature review indicates that no direct tests to clarify this question have been carried out up till now, this paper aims to fill the gap by testing this prediction empirically. Our findings support the proposition that the WACC of younger firms is higher than that of mature firms. Thus, we find that the mature firm overinvestment problem is not intensified by a higher cost of capital, on the contrary, our results suggest that mature firms manage to invest in negative net present value projects even though they have access to cheaper capital. This finding sheds new light on the magnitude of the corporate governance problems found in mature firms.
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Franc-Dąbrowska, Justyna, Magdalena Mądra-Sawicka, and Anna Milewska. "Energy Sector Risk and Cost of Capital Assessment—Companies and Investors Perspective." Energies 14, no. 6 (March 14, 2021): 1613. http://dx.doi.org/10.3390/en14061613.

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This paper aims to identify the costs of capital in a group of companies from the energy sector by including an investor and market risk approach. The study also concerns the company’s Weighted Average Cost of Capital (WACC) cost intra-industry analysis related to sector characteristics such as total assets, revenues, market capitalization, and companies’ age. In order to assess the intergroup relationships, basic correlation relationships were compared and a nonparametric test of variance was performed. The period under study covered the years 2015–2019. The conducted research evaluates groups of companies that dedicated their activity to a particular energy intra-industry division under numerous regulations in Europe. The study contributes to assessing the level of risk among energy listed companies in European capital markets based on capital structure valuation. The study results underline the role of the cost of equity financing, which was twice as high as the cost of debt. The highest WACC was related to the Beta indicator that also expressed the political and regulatory risk over the investigated period. Across debt cost analysis, the role of effective tax rate decreased the level of WACC. The highest level of WACC was noticed among uranium and integrated oil and gas companies. The study contributes to information asymmetry theory related to the cost of capital assumptions.
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Grigoryev, V. V. "Specifics of the Discount Rate Calculaton in the Business Valuation." Economics, taxes & law 11, no. 3 (November 6, 2018): 83–88. http://dx.doi.org/10.26794/1999-849x-2018-11-3-83-88.

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The paper examines two main methods of the discount rate calculation for business valuation: cumulative and weighted average capital cost (WACC), discloses the importance of business valuation for improving the business activity of a company, proposes the principles of the discount rate calculation, examines ways to determine additional risks in the implementation of the cumulative method, and analyzes the costs of the equity and borrowed capital in the implementation of the WACC method. The purpose of the research was to perform a comprehensive analysis of the methods for calculating cash flow discount rates for equity capital and for all invested capital. The research resulted in the development of methods for measuring additional risks in the calculation of the cash flow discount rate for equity and identifying risks in the calculation of the weighted average discount rate of the cash flow for the total invested capital. The research findings can be used for boosting business activities as well as for business valuation and management. It is concluded that every percent of additional risk in the discount rate calculation increases the size of the rate and reduces the cost of a valuated business.
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Vélez-Pareja, Ignacio, Joseph Tham, and Viviana Fernández. "Adjustment of the WACC with Subsidized Debt in the Presence of Corporate Taxes: The Finite-Horizon Case." Estudios de Administración 12, no. 2 (February 5, 2020): 45. http://dx.doi.org/10.5354/0719-0816.2005.56458.

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When discounting free-cash flows (FCF) at the Weighted Average Cost of Capital (WACC), we assume that the cost of debt is the market, unsubsidized rate. With debt at the market rate and perfect capital markets, debt only creates value in the presence of taxes through the tax shield. In some cases, the firm may be able to obtain a loan at a rate that is below the market rate. With subsidized debt and taxes, there would be a benefit to debt financing, and the unleveraged and leveraged values of the cash flows would differ. The benefit of lower tax savings are offset by the benefit of the subsidy. These two benefits have to be introduced explicitly. In this article, we present the necessary adjustments to the WACC and the cost of leveraged equity under the existence of subsidized debt and taxes in a multiple-period setting. We analyze the cases of the WACC applied to the FCF and the WACC applied to the capital-cash flows (CCF). We also utilize the Adjusted Present Value (APV) to consider both the tax savings and the subsidy. We show that all these different approaches give the same answer.
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Charisma, Bryan, and Encep Amir. "Economic Value-Added Creation by Optimizing Capital Structure in Project Finance." International Journal of Applied Research in Management and Economics 3, no. 2 (December 30, 2020): 46–60. http://dx.doi.org/10.33422/ijarme.v3i2.446.

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Infrastructure Projects are large investment by the public and/or private sector that required enormous financial resource commitment to build physical asset and facilities needed for economic development so that the company need project financing to support with. Project finance is based on debt repayment from project companies’ revenue and not on the sponsors or the developer’s balance sheet, so the project companies should assure the cash flow is sufficient for debt repayment and dividend payment. Beside that investors still have to analyze the value created in that project with highest positive Economic Value Added. Net Operating Profit After Tax (NOPAT) need to cover cost of invested capital to create value so that the ratio of NOPAT to total Project Cost (Return on Invested Capital) is should be more than the weighted average cost of capital (WACC). The capital structure doesn’t have an optimum weight and cost as long as the Return on Invested Capital (ROIC) higher than WACC.
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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 (December 1, 2019): 73–91. http://dx.doi.org/10.2478/zireb-2019-0028.

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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.
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Dissertations / Theses on the topic "WACC (Weighted Average Cost of Capital)"

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Oliveira, Reinaldo Grasson de. "Custo de capital e globalização dos mercados." reponame:Repositório Institucional do FGV, 1998. http://hdl.handle.net/10438/4938.

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O trabalho aborda a questão do custo de capital em um contexto de mercados globalizados. Analisa as principais metodologias para definição das variáveis que compõem o Custo Médio Ponderado de Capital (Weighted Average Cost of Capital) e o impacto exercido pela segmentação/integração dos mercados financeiros mundiais nesta definição. Discute as relações internacionais de paridade (Purchasing Power Parity, Efeito Fisher, lnterest Rate Parity, entre outras) e suas implicações para a definição de custo de capital. Discorre sobre diversificação internacional de portfólios e instrumentos para captação de recursos no exterior, como eurobonds e ADR's, e discute a questão do custo de capital ser global ou local/divisional.
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Villela, João Paulo Mesquita. "Determinação do custo médio ponderado de capital regulatório para distribuidoras de gás natural." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/20594.

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The objective of this work is to propose a methodology for determining the weighted average cost of capital to be employed by the regulatory agency in the tariff review process of natural gas distributors in the state of São Paulo. The challenge in this process is to establish a remuneration that guarantees the lowest cost with the greatest benefit to the customers and at the same time provides the maintenance of the economic balance and the incentive to expand the services provided by the concessionaires. The complexity of the study becomes evident when we verify the great dispersion of values proposed in the contributions sent to the Sanitation and Energy Regulatory Agency of the State of São Paulo (ARSESP) during the public consultation process. In this sense, the different approaches used by other regulatory agencies also make it difficult to establish a standardized solution to the problem. In this way, we analyzed initially the methodology defined by the ARSESP, the contributions received during the public consultation process carried out by the agency and some references of national and international regulatory practices. Finally, we sought to solve the issue by proposing a methodology considered adequate to estimate the weighted average cost of capital for the natural gas distributors in the state of São Paulo.
O objetivo deste trabalho é propor uma metodologia para a determinação do custo médio ponderado de capital a ser empregado pela agência reguladora no processo de revisão tarifária das distribuidoras de gás natural do estado de São Paulo. O desafio nesse processo é estabelecer uma remuneração que garanta o menor custo com o maior benefício para os clientes e ao mesmo tempo proporcione a manutenção do equilíbrio econômico e do estímulo a ampliação dos serviços prestados pelas concessionárias. A complexidade do estudo torna-se evidente ao verificarmos a grande dispersão de valores propostos nas contribuições enviadas a Agência Reguladora de Saneamento e Energia do Estado de São Paulo (ARSESP) durante o processo de consulta pública. Nesse sentido, as diferentes abordagens utilizadas por outras agências regulatórias também dificultam a definição de uma solução padronizada para o problema. Desta forma, analisou-se inicialmente a metodologia definida pela ARSESP, as contribuições recebidas durante o processo de consulta pública realizado por esta agência e referências das práticas regulatórias nacionais e internacionais. Finalmente, procurou-se solucionar a questão propondo uma metodologia considerada adequada para estimar o custo médio ponderado de capital para as distribuidoras de gás canalizado do estado de São Paulo.
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Klestilová, Pavla. "Finanční analýza vybrané společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-75403.

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The theoretical part of the diploma thesis deals with the main aspects of financial analysis, especially with horizontal and vertical analysis of absolute values, financial ratios, new valuation models and bankruptcy prediction models. The following part concentrates on the company Crocodille ČR, spol. s r.o. using the theoretical approaches mentioned above. It focuses on trend analysis, the calculation of Weighted Average Cost of Capital and Economic Value Added as well as industry comparative analysis. The final recommendations regarding e.g. the sensitivity analysis of company indebtedness are included in the last chapter.
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Hai, David. "Odhad hodnoty firmy MAFRA, a.s." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-11178.

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The diploma thesis focuses on the analysis of a company MAFRA, a.s. The aim of the paper is to assess the ability of MAFRA a.s. company to increase company value and the ability to sustain the growth in the future. MAFRA a.s. company was valuated using free cash flow to the firm metod .Value of the company is estimated as of 31/12/2008. The value estimated is 2 996 851 677 CZK.
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Jeřábek, Martin. "Ekonomická analýza." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-76309.

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The aim of this thesis is to perform an analysis of MODUS ltd. which will be based on evaluation of its economic performance and finding out the causes of the current situation. In the first part, there is basic theoretical determination of the analysis and all of its appurtenances. The second part emphasizes on an extensive characteristics of the chosen company, so that it is possible to perceive the calculated determinants from the right perspective. The third part includes the performance of the analysis of a given company and a well-arranged recording and subsequent evaluation of the results obtained. The thesis is concluded with the evaluation of the economic situation of the company based on the results of the analysis and with the recommendation of particular measures which would increase the economic efficiency and effectiveness in the future. Furthermore, there is a summary of models and determinants used with an indication of their advantages and disadvantages.
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Maňásková, Lucie. "Hodnocení výkonnosti podnikatelského subjektu pomocí nástrojů finanční analýzy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2019. http://www.nusl.cz/ntk/nusl-400008.

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The Master thesis "Evaluation of the performance of the company using financial analysis tools" is focused on the evaluation of the financial efficiency of the selected enterprise based on classical and modern methods of financial analysis. The theoretical part is devoted to the issue of performance evaluation of a company from a theory point of view. The individual methods, including the ways of their calculations, are described. The theory from the first part follows the second part, where the selected indicators are applied to real company. The practical part includes a detailed analysis of selected indicators of financial analysis. Based on the results of individual indicators of classical and modern methods of financial analysis, recommendations are proposed to improve corporate performance.
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Vecheta, Lukáš. "Finanční analýza firmy užitím systému Maple." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2010. http://www.nusl.cz/ntk/nusl-222467.

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This master’s thesis deals with financial analysis of company Tenza, a.s. The results of financial analysis of this company are compared with results of competitive companies using modern and classical methods. It includes theoretical part which is necessary to complete the analysis, graphical and verbal interpretation of the results. At the conclusion of this thesis the observed companies are compared and possible steps to improve problematic points of solved problems are proposed.
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Oulehla, Patrik. "Stanovení hodnoty podniku výnosovou metodou." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2017. http://www.nusl.cz/ntk/nusl-319422.

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This master thesis deals with the estimation of the value of enterprise Prefa Brno a.s. via income based methods. Specifically via methods DCF and EVA in variant entity. The theoretical part is mainly focused on theoretical foundations and procedures used for valuation of company The practical part uses theoretical patterns and is targeted on the analysed enterprise. It consists of strategic analysis, financial analysis, SWOT analysis and also procedure of valuation of the firm by using income based method.
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Geletová, Miroslava. "Stanovení hodnoty podniku výnosovou metodou." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2018. http://www.nusl.cz/ntk/nusl-383568.

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This master´s thesis deals with the estimation of the value of company COMINFO, a.s. to the date 1.10.2016 using income based methods. Specifically using the method discounted cash flow in variant entity and economic value added in variant entity. In the theoretical part are described the basic theoretical starting points concerning the valuation of company. The practical part includes strategic analysis, financial analysis, analysis and prognosis of value drivers, financial plan and also the determination of the value of the company.
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PILOTO, LUCAS AUGUSTO DE MORAIS. "INTEREST ON EQUITY AND THE WEIGHTED AVERAGE COST OF CAPITAL." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2008. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=12687@1.

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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO
Diversos métodos são utilizados para o cálculo do valor justo de uma empresa. Dentre os métodos mais usados, estão o método do fluxo de caixa descontado, onde os fluxos de caixa estimados da empresa são trazidos a valor presente por uma taxa para se chegar a uma estimativa de valor da empresa. Esta taxa é uma média ponderada do custo de capital próprio e do custo de capital de terceiros, sendo conhecida pela sigla WACC. No Brasil, entretanto, existe uma peculiaridade na legislação que influencia o método de cálculo do WACC: os Juros sobre Capital Próprio (JCP). Criado em 1996, este fator permite que seja distribuí­do aos acionistas, parte do lucro apurado, como remuneração pela utilização do capital próprio. A legislação brasileira permite que este montante possa ser deduzido da base de cálculo do imposto de renda da pessoa jurí­dica, de forma equivalente aos juros pagos a terceiros. Tal particularidade da legislação brasileira impacta diretamente no valor do custo médio ponderado de capital e conseqüentemente no valor justo estimado das empresas que se utilizam do JCP. Tendo em vista que o método tradicional de avaliação de empresas não se adapta às empresas brasileiras que utilizam a distribuição de juros sobre capital próprio, surge a necessidade de adaptação da fórmula tradicional de cálculo do WACC para que este considere o benefí­cio fiscal do JCP. Deste modo, este estudo pretende adaptar a fórmula de cálculo do custo médio ponderado de capital para a realidade das empresas brasileiras, além de demonstrar o impacto desta alteração no cálculo do valor estimado de uma empresa atuante no país. O objetivo geral deste trabalho será testar um modelo de cálculo do custo médio ponderado de capital (WACC) ao arcabouço jurí­dico e contábil brasileiro, considerando para tal, o impacto da utilização dos Juros Sobre Capital Próprio. Como objetivos especí­ficos, temos a adequação da fórmula de cálculo do WACC, incluindo o JCP, o cálculo do valor de uma empresa com o WACC tradicional, o cálculo do valor da mesma empresa com o WACC adaptado e a comparação do valor da empresa apurado nos dois métodos. Para tal, foi utilizado o relatório de avaliação da Aracruz Celulose, realizado por um grande banco de investimento. Esta empresa foi escolhida por distribuir regularmente juros sobre capital próprio. A partir deste relatório, que utilizava a fórmula tradicional do WACC para cálculo do valor justo da empresa, recalculamos o valor justo da ação desta mesma companhia, utilizando a fórmula proposta. Foram comparados então, os valores encontrados pelos dois métodos, onde se verificou que o valor era maior pelo método proposto do que pelo método tradicional. Verificou-se então que a distribuição de juros sobre capital próprio será vantajosa somente nos casos onde a alí­quota de imposto de renda da pessoa jurí­dica for superior à  alíquota de imposto de renda do acionista.
Many methods are used to calculate the fair value of a company. Among the methods most commonly used is the method of discounted cash flow, where the expected cash flows of the company are discounted by a rate to find an estimated value of the company. This rate, known by WACC, is a weighted average cost of equity and debt. In Brazil, however, there is a peculiarity in the legislation that affects the method of calculating the WACC: the Interest on Equity (IOE). Created in 1996, this factor allows the distribution of part of the profit discharged to shareholders as payment for the use of equity. The Brazilian law allows that this amount could be deducted from the base for calculating the income tax for the company, equivalent to interest paid to creditors. This peculiarity of Brazilian legislation impacts directly on the value of the weighted average cost of capital and therefore on the estimated fair value of the companies that make use of the IOE. Given that the traditional method of valuation of companies is not perfectly suited to Brazilian companies that use the distribution of interest on equity, it is necessary to adapt the traditional formula for calculating the WACC, considering the tax benefit of the IOE. Thus, this study aims to adapt the formula for calculating the weighted average cost of capital for the reality of Brazilian companies, in addition to demonstrate the impact of this change in calculating the estimated value of an active company in the country. The general objective of this work will test a model for calculating the weighted average cost of capital (WACC) in the Brazilian legal and accounting framework, considering the impact of the use of Interest on Equity. The specific objectives are the adequacy of the formula for calculating the WACC (including the IOE), the calculation of the value of a company with the traditional WACC, the calculation of the value of the same company with the adapted WACC and for last, the comparison of the value of the company found in both methods. To this end, we used the valuation report of Aracruz Celulose, held by a large investment bank. This company was chosen because it distributes interest on equity regularly. From this report, which used the traditional formula for calculating the WACC fair value of the company, we recalculate the fair value of the stock of that company, using the proposed formula. We then compared the values found by both methods, where was found that the value of the company was greater in the method proposed than in the traditional method. It was concluded that the distribution of interest on equity will be advantageous only in cases where the rate of income tax of the company exceeds the rate of income tax of the shareholders.
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Book chapters on the topic "WACC (Weighted Average Cost of Capital)"

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"Capital Structure: Weighted Average Cost of Capital (WACC)." In An Introduction to Accounting and Managerial Finance, 193–221. WORLD SCIENTIFIC, 2010. http://dx.doi.org/10.1142/9789814273831_0011.

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Astudillo Villegas, Ricardo, and Paula Andrea Ceballos Chávez. "Modelo para el cálculo del costo del capital en instituciones públicas aplicado al sector salud." In Estudios institucionales, empresariales y económicos, 191–218. Editorial Universidad Santiago de Cali, 2020. http://dx.doi.org/10.35985/9789585583849.10.

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En desarrollo del proyecto de investigación denominado “Hospital Universitario del Valle: 2026, diez años después de acogerse a la Ley de Insolvencia Económica”, se ha estudiado la situación financiera actual y futura del principal centro de atención en salud para el suroccidente colombiano. La investigación ha permitido la aplicación de herramientas como indicadores financieros, construcción de escenarios y valoración de flujos entre otros. No obstante el presente artículo dará cuenta solo de la forma como se llegó a establecer el valor del Costo Promedio Ponderado del Capital - WACC (por las siglas en inglés Weighted Average Cost of Capital) aplicado para descontar los flujos. Los otros resultados serán objeto de trabajos independientes.
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Cento, Veljanovski. "Part III The Legal Framework, 10 Interest." In Cartel Damages. Oxford University Press, 2020. http://dx.doi.org/10.1093/law-ocl/9780198855163.003.0010.

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This chapter addresses interest, which is awarded ‘to compensate a claimant from being kept out of his money’. Pre-judgment interest rates set by statute or the courts vary across the EU. In English law, where the claimant can prove loss of interest, it will be compensated as a damage claim. In some cases, the claimant has sought interest calculated using the Weighted Average Cost of Capital (WACC). Otherwise, the court has discretion to apply a judicial simple interest rate for the whole or part of the damage award, usually at the Bank of England Base rate plus 1% to 4%. The award of interest can be significant in a competition claim were the cartel has operated for many years and during periods of high interest rates. At common law, however, interest was not payable on damages; there were exceptions in equity.
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"Weighted Average Cost of Capital." In Valuation for M&A, 163–72. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119200154.ch10.

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"Weighted Average Cost of Capital." In Practitioner's Complete Guide to M&As, 130–36. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119200864.ch37.

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"Weighted Average Cost of Capital." In Valuation for M&A, 169–79. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2018. http://dx.doi.org/10.1002/9781119437413.ch9.

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"Corporation tax, leverage and the weighted average cost of capital." In The Cost of Capital, 153–80. Cambridge University Press, 2005. http://dx.doi.org/10.1017/cbo9781139171335.008.

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"Appendix F: Derivation of Weighted Average Cost of Capital." In Accounting and Valuation Guide, 159–60. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2017. http://dx.doi.org/10.1002/9781119448600.app6.

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"Appendix 17.6: Estimating the Weighted Average Cost of Capital for the ABC Corporation." In From Innovation to Cash Flows, 1–5. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118273166.app15.

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Conference papers on the topic "WACC (Weighted Average Cost of Capital)"

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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.

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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.
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Liu, Jiayun. "Application of Weighted Average Cost of Capital in European Market, Based on 2017 Great Portland Estate Plc (GPE)." In 2018 International Conference on Management, Economics, Education and Social Sciences (MEESS 2018). Paris, France: Atlantis Press, 2018. http://dx.doi.org/10.2991/meess-18.2018.48.

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Gorskij, M. A. "Assessment of the prospects for using the weighted average cost indicator capital in the analysis of production efficiency enterprises." In SCIENCE OF RUSSIA: TARGETS AND GOALS. LJournal, 2020. http://dx.doi.org/10.18411/sr-10-02-2020-07.

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Gorskij, M. A. "“Weighted average cost” of capital and “economic value added” value "as indicators of the financial and economic condition of the company." In SCIENCE OF RUSSIA: TARGETS AND GOALS. "Science of Russia", 2019. http://dx.doi.org/10.18411/sr-10-12-2019-21.

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Dolbnya, E. A., M. K. Vasilyeva, and A. Y. Lyukina. "Analysis of Methods for Calculating the Weighted Average Cost of Capital of a Company on the Example of an Industrial Enterprise." In International Scientific Conference "Far East Con" (ISCFEC 2020). Paris, France: Atlantis Press, 2020. http://dx.doi.org/10.2991/aebmr.k.200312.399.

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Kuzu, Serdar, and H. Muhammet Kekeç. "Analysis of the Effect of Weighted Average Cost of the CBRT Funding on BIST100 Index, BISTXBANK Index and Exchange Rate." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01884.

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This study is found to find out how Weighted Average Funding Cost, which is new policy tool implemented by The Central Bank of Turkey (CBRT) in 2011, weighted average funding cost -aiming at removing the ambiguities seen in the financial variables and minimizing the effect of capital movements on these variables is reviewed. In this study, the effects of the interest rate policy of the Central Bank of the Republic of Turkey (CBRT) on BIST100 index, BISTXBANK index and exchange rate are tested by Augmented Dickey Fuller Test (ADF), ML-GARCH and DCC GARCH models based on ENGLE, R.F. and SHEPPARD, K. (2001). According to the findings obtained, it is concluded that the decisions of the Weighted Average Funding Cost related to Central Bank of the Republic of Turkey (CBTR) lending and borrowing interest rates are direct effective on BIST100 index, BISTXBANK index but indirect with Exchange rate.
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Yadav, Salik, and Venkat Allada. "Developing a Lean Value Model for Product Development." In ASME 2009 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. ASMEDC, 2009. http://dx.doi.org/10.1115/detc2009-86491.

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This paper presents a value quantification model for multi-stage product development using lean principles. The proposed value model considers four main stages of product development (PD) including conceptual development, systems design, detailed design and prototyping. The model determines an optimal solution for each of the design variables to maximize the value at each of the PD stages. The value at each of the PD stages is formulated as a function of the six factors: (a) importance of customer requirements (b) cost of customer’s ownership, (c) parts/service availability, (d) weighted average cost of capital, (e) information evolution and (f) risk reduction. Factors (a)-(d) have been adequately addressed in the literature. This study focuses on information evolution and risk reduction. These two factors are defined by a set of value attributes including performance, risk, schedule, cost, form, fit, function and timeliness. An example of Detonator Disposal (DD) robot family is used to explain the working of the proposed model.
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