资本成本是指企业为筹措和使用资本而付出的代价,包括筹资过程中发生的费用,如股票、债券的发行费用,以及在用过程中支付的报酬,如何向股东、债权人支付的股利、利息。从投资者的角度看,资本成本是资本市场投资待定的项目所要求的收益率,或者机会成本。如果有更具吸引力的投资选择(更高的期望收益率),投资者将转移其投资。从企业角度看,资本成本是企业为实 The cost of capital refers to the consideration that the enterprise pays for the use and acquisition of capital, including expenses incurred in the process of fund raising, such as stock and bond issuance costs, remuneration paid in use, dividends paid to shareholders and creditors, interest . From an investor’s point of view, the cost of capital is the rate of return, or opportunity cost, required by the project to be invested in the capital markets. If there is a more attractive investment option (higher expected return rate), investors will shift their investment. From an enterprise perspective, the cost of capital is business real