METHODOLOGICAL PROPOSAL FOR CALCULATING THE COST OF CAPITAL

The objective of this research is to reformulate the calculation of the cost of capital for Mexican companies through the development of a methodological proposal aimed at identifying methods that optimize the financial structure of the firm. Thus, the analysis begins from a macro perspective influenced by the economic cycle, monetary and fiscal policy, and progresses to a micro analysis highlighting the sector, type of good and/or service, growth stage, and specific variables that allow for the calculation of the cost of capital. The analysis conducted was descriptive and documentary, supported by a review of literature from various theoretical and practical perspectives on the topic. In this way, the type of company micro, small, medium, and large national or multinational, public or private is considered, emphasizing the differences that arise for their analysis. The results of the research show that the calculation of the cost of capital is a complex concept grounded in high subjectivity. It is recommended to develop the use of key informants and/or to consult experts for the determination of the most complex variables in the calculation of the cost of capital, especially in the case of micro,small,and medium enterprises and cooperatives.