AXEL, PIERRU; DENIS, BABUSIAUX - In: Estudios de Economía Aplicada 25 (2007) Abril, pp. 341-364
In this article, we show how to value projects financed by subsidized loans using the standard WACC method, with three distinct assumptions concerning the debt ratio targeted by the fi rm. In fact, the subsidized loan amount used to calculate this debt ratio can be determined according to book...