Anmerkungen:
In: Finanz Betrieb, pp. 502-505, September 2002
Beschreibung:
Based on an example Loeffler claims in a recent FINANZ BETRIEB-article that the application of the Miles/Ezzell-WACC may offer arbitrage opportunities. He concludes that the Miles/Ezzell-WACC is not applicable without restrictions. We discuss the example of Louml;ffler and show that either (a) the example offers arbitrage even in the case of fully equity finance, or (b) the example violates the assumptions made by Miles/Ezzell