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Scipediacontent moved page Draft Content 757083207 to 238,295kq

Scipediacontent: Created page with " == Abstract == In this paper, we present the cost of capital estimation for highway concessionaires in Chile. We estimated the cost of equity and the cost of debt and determ..."

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Created page with " == Abstract == In this paper, we present the cost of capital estimation for highway concessionaires in Chile. We estimated the cost of equity and the cost of debt and determ..."

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== Abstract ==

In this paper, we present the cost of capital estimation for highway concessionaires in Chile. We estimated the cost of equity and the cost of debt and determined the capital structure for each one of twenty-four concessionaires that operate highways. We based our estimations on the developments of Sharpe (1964), Modigliani and Miller (1958), and Maquieira (2009), which were also compared with the Brusov et al. (2015) developments. We collected stock prices for different highway concessionaires around the world from Google Finance and Reuters’ websites in order to determine the Beta of equity using a representative company. After that, we estimated the cost of equity considering Hamada (1969) and a Capital Asset Pricing Model. Then, we estimated the cost of capital using the cost of debt and the capital structure of Chile’s highway concessionaires. With all above, we were able to determine the Weighted Average Cost of Capital (WACC) for highway concessions which ranges from 5.49 to 6.62%.

Document type: Article

== Full document ==
<pdf>Media:Draft_Content_757083207-beopen1302-5542-document.pdf</pdf>

== Original document ==

The different versions of the original document can be found in:

* [http://downloads.hindawi.com/journals/jat/2018/2153536.pdf http://downloads.hindawi.com/journals/jat/2018/2153536.pdf] under the license https://creativecommons.org/licenses/by

* [http://dx.doi.org/10.1155/2018/2153536 http://dx.doi.org/10.1155/2018/2153536] under the license cc-by

* [http://downloads.hindawi.com/journals/jat/2018/2153536.pdf http://downloads.hindawi.com/journals/jat/2018/2153536.pdf],
: [http://downloads.hindawi.com/journals/jat/2018/2153536.xml http://downloads.hindawi.com/journals/jat/2018/2153536.xml],
: [http://dx.doi.org/10.1155/2018/2153536 http://dx.doi.org/10.1155/2018/2153536] under the license http://creativecommons.org/licenses/by/4.0

* [http://downloads.hindawi.com/journals/jat/2018/2153536.pdf http://downloads.hindawi.com/journals/jat/2018/2153536.pdf],
: [https://www.hindawi.com/journals/jat/2018/2153536 https://www.hindawi.com/journals/jat/2018/2153536],
: [https://core.ac.uk/display/153611018 https://core.ac.uk/display/153611018],
: [https://academic.microsoft.com/#/detail/2789737725 https://academic.microsoft.com/#/detail/2789737725] under the license http://creativecommons.org/licenses/by/4.0/

* [http://dx.doi.org/10.1155/2018/2153536 http://dx.doi.org/10.1155/2018/2153536],
: [https://doaj.org/toc/0197-6729 https://doaj.org/toc/0197-6729],
: [https://doaj.org/toc/2042-3195 https://doaj.org/toc/2042-3195]

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Scipediacontent: Scipediacontent moved page Draft Content 757083207 to 238,295kq

Scipediacontent: Created page with " == Abstract == In this paper, we present the cost of capital estimation for highway concessionaires in Chile. We estimated the cost of equity and the cost of debt and determ..."