项目现金流按加权平均资本成本或适当折现率折现的价值。
The value of a project's cash flows discounted at the weighted average cost of capital or an appropriate discount rate.
一个简单的例子揭示了现有的加权平均资本成本(WACC)计算公式违背了价值的可加性原理。
A simple example reveals that the existing weighted average cost of capital (WACC) formula for valuation conflicts with the principle of value additivity.
企业最优资本结构是指使企业平均资本成本最低且企业价值最大的债务资本和权益资本的比例关系。
The optimum capital structure is the ratio of long-term liabilities to equities when the average cost of capital is lowest and the value of enterprise is max.
企业在生产经营中，应该运用适当的方法确定最佳资本结构，使企业的平均资本成本最低，企业价值最大。
Enterprise should make sure of the best structure of capital through a suitable measurement, thus to minimize the cost of capital and maximize its business value.
假设一个公司的加权平均资本成本估计自己在同一时间是10%，这应该为被用来评估所有项目的公司呢？
Suppose a firm estimated the WACC of its own at one time to be 10%, should this WACC be used to evaluate all projects of the firm?
在5%的统计学水平上，权益资本成本、平均资本成本、息税前收益率的标准离差率和财务杠杆系数四者之间无明显的相关性。
Based on 5% of statistics there are no apparent relationships between equity capital cost, average capital cost, standard variation coefficient of EBIT and degree of financial leverage.
然而，如果市场结构是内生的，由于资本流入导致新企业进入市场，从而提高了企业的平均成本，这样，资本流入反而会有贫困化效应。
However, if the market structure is endogenous, then a capital inflow tends to be immiserizing because it increases entry and lets firms increase their average cost.
然而，如果市场结构是内生的，由于资本流入导致新企业进入市场，从而提高了企业的平均成本，这样，资本流入反而会有贫困化效应。
However, if the market structure is endogenous, then a capital inflow tends to be immiserizing because it increases entry and lets firms increase their average cost.
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