MENADŽMET CENE KAPITALA U SVRHU DONOŠENJA INVESTICIONIH ODLUKA PREDUZEĆA
CAPITAL PRICE MANAGEMENT FOR THE PURPOSE OF MAKING INVESTMENT DECISIONS OF THE COMPANY

Summary/Abstract: Investment and financial decisions represent only two aspects of the same problem, given that the acceptability of investment projects depends primarily on how those projects will be financed. A company cannot count on continuous debt financing if it does not constantly strengthen its share capital, either through the accumulation of net profit or a new issue of ordinary shares. By financing certain projects from the issue of long-term debt, the company draws at the same time a part of its creditworthiness and weakens its chances of engaging in favorable debt in the future. Sooner or later, depending on the volume and intensity of investments, it will have to rely on sources of equity because, otherwise, it will be left without sources of financing.

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