Cost of Capital and Its Forecast in Value-Based Management

摘要

Enterprise operation in the current context of ecologically sustainable development includes revision of existing management and its further improvement. Value-based management is the upcoming trend of financial management. Cost of capital is one of the key indicators and it plays prominent role in cost assessment and forecast. The analysis of existing approaches to formation and assessment of rational capital structure is conducted. Dynamic compromise theory in terms of ecologically sustainable development is proved to be the most reasonable for practical use. Correction of its assessment, such as broadening of risk spectrum and effects in case of enterprise environmentally friendly activity is proposed. Methodological support of capital cost forecast, considering the impact of non-financial factors is improved. It will help to extend tools of value-based management.