Average cost of capital of enterprises of different industries of the Russian economy

The structure and cost of capital covering the costs of production and investment activities of an industrial corporation are key indicators of its market activity and competitiveness. It is known that the weighted average cost of capital indicator, calculated in accordance with the WACC model, is a tool sensitive to factors of the external and internal environment of the enterprise. These factors include, first of all, the availability of «cheap» loans for the company at interest rates significantly lower than the return on equity, the level of industry, territorial, country and other risks, the professionalism of managers, etc. In previous articles, M.А. Gorskiy and his students examined the problems of linking the level of capital costs of a corporation with the level of institutional development of capital markets and the state of the investment climate. The author also tested a modified version of the calculation of the WACC indicator (using the example of the task of choosing the optimal strategy for borrowed financing of PJSC Gazprom)...