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Factor affecting the cost of borrowed capital from the perspective of the appraiser

Faktory ovlivňující výši nákladů cizího kapitálu z pohledu odhadce

Lucie Rudolfová

Český finanční a účetní časopis, 2019, vol. 2019, issue 4, 15-30

Abstract: The subject of the paper is a qualitative analysis of factors that have an impact on the costs of borrowed capital. These are potentially useful factors in estimating the cost of borrowings for business valuation purposes. They are therefore viewed from the perspective of an appraiser. A qualitative analysis of these factors serves not only as a guide which factors and how shall be taken into account in the estimation but also as an initial pre-selection of factors that will be further tested in the broader project using statistical analysis. The factors examined are indebtedness, interest coverage, business size, economic cycle phase, marketability of shares, loan currency, industry, guarantee options, maturity and loan volume.

Keywords: Costs of capital; Borrowed capital; Interest-bearing capital; Náklady kapitálu; Cizí kapitál; Úročený kapitál (search for similar items in EconPapers)
Date: 2019
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Český finanční a účetní časopis, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3

DOI: 10.18267/j.cfuc.537

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