Resumo

BASTOS, César  e  MARTINS, António. The cost of capital estimation in capital budgeting decisions: An empirical analysis. Economia Global e Gestão [online]. 2008, vol.13, n.2, pp.89-119. ISSN 0873-7444.

This paper attempts to analyse how the recommended theoretical concepts and procedures regarding the use of the cost of capital in investment analysis are applied in medium and large businesses in Portugal. We present a brief revision of literature about the conceptual aspects and the empirical studies carried out to date. We used a questionnaire that was carried out on the one thousand largest non-financial companies in Portugal, and then we present results about practices of surveyed firms regarding the use of the cost of capital and compare them to the literature main conclusions.

Palavras-chave : Cost of Capital; Capital Budgeting; Investments Analysis.

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