Capital Structure: Weighted Average Cost of Capital (WACC)

Harold Bierman
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Harold Bierman: Cornell University, USA

Chapter 11 in An Introduction to Accounting and Managerial Finance:A Merger of Equals, 2010, pp 193-221 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:DefinitionThe WeightsAccumulated Depreciation Is Not CapitalExistence of a Unique Optimal Financial StructureNo TaxesA Constant WACCBuying a Combination of Stocks and Bonds to Delever the Firm: No TaxesLevering a FirmBefore- and After-Tax CostsFirm Value with TaxesValuing a Firm: Capital Structure and Corporate TaxesPersonal TaxesThe Capital Cost of RiskThe Expected ReturnSystematic and Unsystematic ReturnsUse of the CAPMConclusionReview ProblemsQuestions and Problems

Keywords: Accounting; Finance; Mergers and Acquisitions; Managerial Finance (search for similar items in EconPapers)
Date: 2010
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