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沈雨微 · 2023年04月13日

B为什么不对

  1. CFA I
  2. Corporate Issuers

NO.PZ2021091701000029

问题如下：

The current weighted average cost of capital (WACC) for Van der Welde is 10%. The company announced a debt offering that raises the WACC to 13%. The most likely conclusion is that for Van der Welde:

选项：

A.

the company’s prospects are improving.

B.

equity financing is cheaper than debt financing

C.

the company’s debt/equity has moved beyond the optimal range.

解释：

C is correct. If the company’s WACC increases as a result of taking on additional debt, the company has moved beyond the optimal capital range. The costs of financial distress may outweigh any tax benefits to the use of debt.

老师好，B选项为什么不对

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王琛_品职助教 · 2023年04月14日

嗨，从没放弃的小努力你好：


因为股东的求偿顺序排在债权人之后，且承担的风险高于债权人，所以一般情况下，股权的融资成本不会低于债权的融资成本哈

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努力的时光都是限量版，加油！

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