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资本成本是企业筹集和使用资金所付出的代价,归根到底是对企业利润的一项扣除,对企业筹资管理、投资管理都具有重要的作用。本文先介绍不同筹资方式下的个别资本成本计算方法,进而再介绍对企业筹资决策有重要影响的两组概念:综合资本成本和边际资本成本。
The cost of capital is the price paid by enterprises for raising and using funds. In the final analysis, it is a deduction of the profits of enterprises and plays an important role in the financing management and investment management of enterprises. This article first introduces the method of calculating individual capital costs under different fund-raising methods, and then introduces two groups of concepts that have a significant impact on corporate fund-raising decisions: integrated capital costs and marginal capital costs.