权益资本成本既是投资者在权衡收益与风险基础上确定的必要报酬率,也是企业选择投资项目的最低报酬率,已成为现代金融学和财务学研究的核心。本文首先介绍权益资本成本的概念和研究意义,然后从权益资本成本的测度和影响因素两方面论述其国内外研究成果和趋势,最后对研究方向给予简评。 The cost of equity capital is not only the necessary rate of return determined by investors on the basis of weighing the income and risk, but also the minimum rate of return for companies to select investment projects, which has become the core of modern financial science and finance research. This article first introduces the concept and significance of the cost of equity capital, and then discusses the research results and trends at home and abroad from the aspects of the measurement of cost of equity capital and its influencing factors. Finally, it gives a brief comment on the research direction.