Pierru, Axel - In: The Quarterly Review of Economics and Finance 49 (2009) 3, pp. 1219-1223
In this journal, Miller [Miller, R. A. (2009). The weighted average cost of capital is not quite right. The Quarterly Review of Economics and Finance, 49, 128-138] argues that the standard WACC formula fails to correctly remunerate shareholders and bondholders. This is proved by considering a...