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Kalkulatorische Eigenkapitalverzinsung und Opportunitätskosten im Kontext einer bedarfswirtschaftlichen Investitionstheorie
[Imputed Return on Equity and Opportunity Costs in the Context of a Need-Based Investment Theory]

Author

Listed:
  • Giebel, Frank

Abstract

Der Artikel untersucht im Rahmen der bedarfswirtschaftlichen Betriebswirtschaftslehre (öffentliche Unternehmen, Genossenschaften, Stiftungsunternehmen) inwieweit Eigenkapitalzinsen bei der Berechnung der Selbstkostenpreise zu berücksichtigen sind und welche Rolle dabei die Idee der Opportunitätskosten spielt im Rahmen einer bedarfswirtschaftlichen Investitionstheorie. Es zeigt sich, dass für das Ziel der Nutzer-Nutzenmaximierung im Grundsatz keine Eigenkapitalzinsen in der Kalkulation von Selbstkostenpreisen anzusetzen sind. Es zeigt sich weiter, dass für das Ziel der Gesamtersparnismaximierung auf Leistungsabnehmerseite die Idee von Opportunitätskosten keine Rolle spielen. Sie könnten jedoch bei Fragen der Verteilung der Ersparnisse auf der Leistungsabnehmerseite bei bestimmten Konstellationen eine Rolle spielen. The article examines, within the framework of needs-based business economics (public enterprises, cooperatives, foundation-based businesses) , the extent to which interest on equity should be considered when calculating cost prices and the role that the concept of opportunity costs plays within a needs-based investment theory. It becomes evident that, for the purpose of utility maximization, imputed interest rates for the equity capital used should not be categorically included in the calculation of cost prices. Furthermore, the analysis reveals that, for the goal of maximizing overall savings on the side of the companies customers, the concept of opportunity costs does not play a role. However, in questions concerning the allocation of savings between customers, opportunity costs could play a certain role in specific circumstances.

Suggested Citation

  • Giebel, Frank, 2025. "Kalkulatorische Eigenkapitalverzinsung und Opportunitätskosten im Kontext einer bedarfswirtschaftlichen Investitionstheorie [Imputed Return on Equity and Opportunity Costs in the Context of a Need-," MPRA Paper 124086, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:124086
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    More about this item

    Keywords

    Bedarfswirtschaft; bedarfswirtschaftliche Investitionstheorie; öffentliche Unternehmen; Genossenschaften; kalkulatorische Eigenkapitalverzinsung; Opportunitätskosten;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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