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Supuestos implícitos en la utilización del Capital Assets Pricing Model – CAPM - Para el cálculo del costo del capital propio – EQUITY

Author

Listed:
  • Carlos Arturo Gómez Restrepo
  • Mario García Molina

Abstract

The article elicits the assumptions and problems underlying the use of the CAPM in calculating the equity´s cost. It stresses the difference between the way decisions are made in the stock market and in the firm involved in production processes. It reviews the literature on CAPM and the Weighted Average Cost of Capital, WACC, stating that none of the papers found takes into account the entrepreneur´s logic. Based upon the theoretical developments of the CAPM, it shows the drawback of using this model in calculating the cost of capital in firms.

Suggested Citation

  • Carlos Arturo Gómez Restrepo & Mario García Molina, 2015. "Supuestos implícitos en la utilización del Capital Assets Pricing Model – CAPM - Para el cálculo del costo del capital propio – EQUITY," Econógrafos, Escuela de Economía 023743, Universidad Nacional de Colombia, FCE, CID.
    • Handle: RePEc:col:000176:023743
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    File URL: https://fce.unal.edu.co/centro-editorial/index.php/docs/doctorado/1-supuestos-implicitos-en-la-utilizacion-el-capital-assets-pricing-model-capm-para-el-calculo-del-costo-del-capital-propio-equity
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    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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