search query: @indexterm CAPITAL COSTS / total: 211
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| Author: | Wenusch, H. |
| Title: | Die Aussagekraft des Zinssatzes: Was bedeuten gesamtwirtschaftliche Grössen für Kapitalkosten bzw. -erträge und Liquidität. |
| Journal: | Journal für Betriebswirtschaft
1995 : VOL. 45:5-6, p. 347-354 |
| Index terms: | INTEREST RATES CAPITAL COSTS FINANCING LIQUIDITY INFLATION |
| Language: | ger |
| Abstract: | In general it is not possible to say whether one or another of different alternatives of financing is more favourable if one compares the numerals of the interest rates only. Only if the currencies of these alternatives were the same and had the same commencement and tenor this would be the correct method. The interest rates are to be relativated instead: either by the inflation or by the up-/devaluation of the different currencies. Thereby it is not sufficient to deduct the inflation-rate from the interest rates. It is rather necessary to "deflationate" the interest rates. The influence of inflation also affects the calculation of rates The conventional calculation of rates produces rates with identic digits. This means that inflation devaluates later rates. Or that early rates represent a commercial burden above average. |
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