Which of the following events will reduce a company's weighted average cost of capital(WACC)?

 

　　A.An increase in expected inflation.

 

　　B.A reduction in the company's bond rating.

 

　　C.A reduction in the market risk premium.

 

　　Answer=C

 

　　An increase in either the company’s beta or the market risk premium will cause the WACC to increase using the CAPM approach.A reduction in the market risk premium will reduce the cost of equity for WACC.

 

　　解析：

 

　　WACC是公司金融较重要的一个考点，没有之一。这题问的是概念，WACC是公司的用钱成本。那增加预期通胀和减少公司债的评级，都会使得公司用钱成本提高（通胀会增加货币成本，公司债评级降低会需要提高风险溢价），而C减少了市场风险，可以使得风险溢价降低，而使得用钱成本降低。