NO.PZ2021091701000027
问题如下：
If investors have homogeneous expectations, the market is efficient, and there
are no taxes, no transaction costs, and no bankruptcy costs, Modigliani and
Miller’s Proposition I states that:
选项：
A.bankruptcy risk rises with more leverage
managers cannot change the value of the company by changing the amount
of debt.
managers cannot increase the value of the company by employing tax-saving
strategies.
解释：
B is correct. Proposition I, or the capital structure irrelevance theorem, states
that in perfect markets the level of debt versus equity in the capital structure
has no effect on company value.
如题
