اعتماد انموذج (ICAPM) مطور في تقدير معدل العائد المطلوب وقيمة المنشأة الدولية

Abstract

The international political and economic conditions that have become subject to continuous changes in this wide-ranging world and the change of these conditions at the local level as well, affected by international changes, prompted many companies to become international companies due to their investment choices outside the borders of their countries, and of course this comes from their productive capacities Financial and the availability of the necessary staff in order to achieve the best return and avoid risks, as well as to take advantage of the advantages of investment expansion, such as searching for materials or less expensive labor wages and sometimes getting rid of heavy tax burdens, but there cannot be an environment free of risks, such as the difference in inflation rates, exchange rates and rates Interest rates and all these variables affect and are affected by each other, which is reflected in the required rate of return at the level of international investment, as well as the weighted cost of financing (WACC), the volume of cash flows from international investments, and finally the value of the international enterprise is affected by all these variables. ICAPM model)) after its development by adding other influencing international factors, either calculating values The international establishment has been using the international model (V = MNC), and the research produced a set of conclusions and recommendations.