Open AccessUSING THE CONCEPT OF TRANSACTION COSTS IN CAPITAL STRUCTURE MANAGEMENT
Author(s) -
Svetlana Viktorovna Lepeshkina
Publication year - 2020
Publication title -
èkonomika, professiâ, biznes
Language(s) - English
Resource type - Journals
eISSN - 2414-5890
pISSN - 2413-8584
DOI - 10.14258/epb201961
Subject(s) - transaction cost , cost of capital , capital cost , capital (architecture) , relation (database) , microeconomics , capital structure , database transaction , economics , industrial organization , point (geometry) , fixed capital , business , capital formation , computer science , financial capital , finance , mathematics , macroeconomics , profit (economics) , data mining , debt , geometry , archaeology , programming language , history
The article discusses the theoretical aspects of issues related to the assessment of capital, the formation of its structure from the point of view of making management decisions in cost formation on its attraction and maintenance. The concept of “capital” is clarified from the point of view of its formation and subsequent efficiency assessment. The approach to the formation of capital structure concepts of the modern period on the development basis is justified. The method of estimating the cost of capital and the formation of the target capital structure, based on the inclusion of transaction costs in the cost of capital, which allows you to more accurately determine the size of these costs in relation to the amount of equity and more accurately generate the weighted average cost of capital of the organization. The empirical nature of the study allows us to use the proposed method of forming the capital structure in relation to various (individual) conditions of the organization’s functioning, followed by clarification of the parameters of decision-making based on the set goals of the organization’s activities.