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Una Introducción Al Costo De Capital

Author

Listed:
  • Ignacio Velez Pareja
  • Joseph Tham

Abstract

Este capítulo está dedicado a la definición y aplicación del concepto del 'costo de capital' y la valoración de los flujos de caja desde diferentes puntos de vista. Se presenta un método para estimar el costo de la deuda y las formulaciones generales del costo del patrimonio y del tradicional costo promedio ponderado del capital CPPC, (WACC, en inglés), para el flujo de caja libre, FCL y para el no tradicional flujo de caja de capital, FCC. Se explica en detalle la fórmula tradicional de libros de texto del CPPC con respecto a FCC y FCL. Se muestra la solución del problema de la circularidad entre el CPPC y el valor del flujo de caja tanto con iteraciones como de forma analítica. Al final del capítulo se presentan algunas preguntas para animar al lector a tener nuevas perspectivas sobre el tema.

Suggested Citation

  • Ignacio Velez Pareja & Joseph Tham, 2012. "Una Introducción Al Costo De Capital," Proyecciones Financieras y Valoración 9307, Master Consultores.
  • Handle: RePEc:col:000463:009307
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    File URL: http://ssrn.com/abstract=1997065
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    More about this item

    Keywords

    Cost of capital; weighted average cost of capital; cost of levered equity; Tax Savings;
    All these keywords.

    JEL classification:

    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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