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Cost of Capital. Die Berechnung der Kapitalkosten von DAX-Unternehmen: Theoretische Grundlagen und empirische Untersuchung

Cost of Capital. Die Berechnung der Kapitalkosten von DAX-Unternehmen: Theoretische Grundlagen und empirische Untersuchung

          
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About the Book

"Zu hoher Einsatz - Unternehmen kalkulieren mit zu hoher Renditeanforderung". So lautete die Überschrift eines Fachartikels von Gleißner im Finance Magazin. Gleißner beschreibt in seinem Beitrag die zu hohen geforderten Renditen für Investitionen, die sich in den Kapitalkosten ausdrücken. Die Höhe der Kapitalkosten wirkt sich vielfältig auf unternehmerische Entscheidungen, wie Investitionen, deren Rentabilität und die Ermittlung des Unternehmenswerts aus. Die Frage, die sich im Zusammenhang mit dem Artikel Gleißners stellt ist also, ob Unternehmen mit zu hohen Kapitalkosten rechnen. Die Autorin erklärt in ihrer Arbeit ausführlich die Herleitung von Kapitalkosten anhand von theoretischen Grundlagen. Sie zeigt Transparenz in der Kapitalkostenermittlung der Unternehmen auf und klärt, ob Unternehmen durch Veränderungen wertbestimmender Determinanten ihre Kapitalkosten bewusst hoch halten wollen. Aus dem Inhalt: - Cost of Capital - CAPM - Capital Asset Pricing Model - Fremdkapital vs. Eigenkapital - Cashflow - Kapitalkostenanalyse - Kapitalstrukturanalyse Das Ziel der vorliegenden Arbeit besteht darin, anhand theoretischen Grundlagen, die Herleitung von Kapitalkosten ausführlich zu erklären. Aufgrund der Komplexität zur Bestimmung einflussnehmender Determinanten sollen geeignete Methoden, wie sie häufig in der Praxis Anwendung finden, vorgestellt werden, um zu veranschaulichen, welche Faktoren aus dem wirtschaftlichen Umwelt einen wesentlichen Einfluss auf die Berechnung der Kapitalkosten nehmen. Die Kapitalkosten als wertorientierte Bestimmungsgröße wirken sich, durch deren Einbeziehung in Rechenmethoden zur Ergebnisbestimmung, maßgeblich im Resultat aus. Aus diesem Grund soll erörtert werden, welchen wesentlichen Einfluss sie aufgrund ihrer Höhe auf die Wertgrößen nehmen und diese in der Folge verändern. Die veröffentlichten Geschäftsberichte der Unternehmen können theoriegeleitet hinsichtlich der Kapitalkosten analysiert und ausgewertet werden. Das Ziel ist e


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Product Details
  • ISBN-13: 9783946458555
  • Publisher: Studylab
  • Publisher Imprint: Studylab
  • Height: 210 mm
  • No of Pages: 72
  • Series Title: German
  • Sub Title: Theoretische Grundlagen und empirische Untersuchung
  • Width: 148 mm
  • ISBN-10: 3946458556
  • Publisher Date: 14 Jul 2016
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Weight: 104 gr


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