文章基本信息

标题：COST OF CAPITAL ESTIMATION FOR MAJOR CORPORATIONS. EVIDENCE ON BEST PRACTICE
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作者：Filip, Angela-Maria ; Beju, Daniela Georgeta ; Pochea, Maria-Miruna 等
期刊名称：Theoretical and Applied Economics
印刷版ISSN：1841-8678
电子版ISSN：1844-0029
出版年度：2011
卷号：5(558)(supplement)
期号：5(558)(supplement)
页码：273-277
出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：This paper presents the theoretical background concerning capital budgeting techniques and cost of capital estimation and a literature review on cost of capital estimation practice applied by key European corporations as opposed to Asian and American firms. Previous studies showed that the most commonly used model for estimating the cost of equity is the CAPM with major differences concerning the choice of variables. This broad estimating divergence has major implications on the decision making process and capital budgeting techniques.
关键词：cost of equity; capital budgeting; WACC; discount rate; DCF methods.