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资金成本是客运企业筹资过程必然要考虑的财务指标,笔者以一简单例举说明在企业经营成果的评价过程中,是否考虑资金成本,得出截然不同的评价结论,说明了资金成本是现代企业财务管理中的重要理念。结合客运企业资金特点,按照筹资的方式不同,把客运企业筹资方式分为股权资本筹资和负债资本筹资,并分别就股权、负债筹资的各种类型的资金成本计算及优缺点作详细论述,同时论述了实务操作过程中综合资金成本的计算,最后强调计算资金成本考虑时间价值的同时也要考虑风险价值,并就筹资过程中应考虑的其他因素作了简要阐述。
The cost of capital is the financial index that must be considered in the process of fund-raising of passenger transport enterprises. The author gives a simple example to illustrate whether the cost of capital is taken into account in the evaluation process of the enterprise’s operating results, resulting in completely different evaluation conclusions, indicating that the cost of capital is a modern enterprise Important concept in financial management. According to the characteristics of the funds of the passenger transport enterprises, according to the different ways of raising funds, the financing methods of the passenger transport enterprises are divided into equity capital financing and debt capital financing, and the various types of capital cost financing and the advantages and disadvantages of equity financing are discussed in detail. Discusses the calculation of the comprehensive cost of funds in the process of practical operation, and finally emphasizes the calculation of the cost of capital to consider the time value as well as the value of risk, and gives a brief account of other factors that should be considered in the process of fund-raising.