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所在平台: Udemy |
课程主页: https://www.udemy.com/course/cost-of-capital-in-finance/
课程评论：没有评论
课程名称：金融管理中的资本成本 概述：本课程将帮助学生理解资本成本的概念，包括债务资本成本、优先股资本成本、普通股资本成本、留存收益成本以及加权平均资本成本（WACC）。资本成本是企业在创造价值前，必须获得的最低回报率。在实现盈利之前，企业必须至少产生足够的收入来覆盖其运营所需的资本成本，这包括用于融资的债务成本和权益成本。资本成本高度依赖于企业所采用的融资方式，企业可以通过债务融资或纯粹通过权益融资，但是大多数公司通常会结合使用债务和权益。因此，资本成本来自所有资本来源的加权平均成本。企业的证券通常包括债务、优先股和普通股，因此必须计算债务成本、优先股成本和股本成本，以确定公司的资本成本。值得注意的是，债务和权益成本都必须是前瞻性的，反映未来风险与回报的预期。例如，历史债务成本并不能有效指示实际前瞻性的债务成本。一旦确定了债务成本、优先股成本和股本成本，就可以计算出它们的混合体——加权平均资本成本（WACC）。
In this course, the students will learn:Concept of Cost of CapitalCost of Debt CapitalCost of Preference Share CapitalCost of Equity Share CapitalCost of Retained EarningsWeighted Average Cost of Capital (WACC)Cost of capital is the minimum rate of return that a business must earn before generating value. Before a business can turn a profit, it must at least generate sufficient income to cover the cost of the capital it uses to fund its operations. This consists of both the cost of debt and the cost of equity used for financing a business. The cost of capital is heavily dependent on the type of financing used in the business. A business can be financed through debt or strictly through equity. However, most companies employ a mixture of equity and debt to finance their businesses. Therefore, the cost of capital comes from the weighted average cost of all capital sources or the weighted average cost of capital. A company's securities typically debt, preference shares and equity, one must therefore calculate the cost of debt, cost of preference shares and the cost of equity to determine a company's cost of capital. Importantly, both cost of debt and equity must be forward looking, and reflect the expectations of risk and return in the future. This means, for instance, that the past cost of debt is not a good indicator of the actual forward looking cost of debt. Once cost of debt, preference shares and cost of equity have been determined, their blend, the weighted average cost of capital (WACC), can be calculated.
