NO.PZ2021091701000035
问题如下：
According to the pecking order theory:
选项：
A.new debt is preferable to new equity.
new debt is preferable to internally generated funds
new equity is always preferable to other sources of capital.
解释：
A is correct. According to the pecking order theory, internally generated funds
are preferable to both new equity and new debt. If internal financing is insufficient, managers next prefer new debt, then new equity. Managers prefer forms
of financing with the least amount of visibility to outsiders.
讲义上写 first preference : internally generated funds. 这题为啥不选B。。。
