开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

🌊Yuri🌊 · 2023年05月31日

NO.PZ2021091701000028

问题如下:

According to Modigliani and Miller’s Proposition II without taxes:

选项:

A.

the capital structure decision has no effect on the cost of equity.

B.

investment and the capital structure decisions are interdependent

C.

the cost of equity increases as the use of debt in the capital structure increases.

解释:

C is correct. The cost of equity rises with the use of debt in the capital structure (e.g., with increasing financial leverage).

a选项说的是re的变化对资本结构影响。不是说在no taxes的情况下左右两边互不影响的嘛,那re的变化也不会影响到资本结构啊

1 个答案

王琛_品职助教 · 2023年06月01日

嗨,爱思考的PZer你好:


1

同学对选项 A 的理解有误哈

选项 A 本身是在说:D/E 比例,对 re 没有影响 (句式简化形式为:A has no effect on B)

这个说法是错误的

2

因为根据 MM 理论,D/E 比例增加,re 是增加的

也请参考基础班讲义墨迹版 P342

----------------------------------------------
加油吧,让我们一起遇见更好的自己!

  • 1

    回答
  • 0

    关注
  • 325

    浏览
相关问题

NO.PZ2021091701000028问题如下 Accorng to Mogliani anMiller’s Proposition II without taxes: A.the capitstructure cision hno effeon the cost of equity.B.investment anthe capitstructure cisions are interpenntC.the cost of equity increases the use of in the capitstructure increases. C is correct. The cost of equity rises with the use of in the capitstructure (e.g., with increasing financileverage). MM2不就是说稅盾好处会带来asset value增加吗?那资本结构和investment就是有关系的吖

2022-08-10 16:45 1 · 回答

NO.PZ2021091701000028 问题如下 Accorng to Mogliani anMiller’s Proposition II without taxes: A.the capitstructure cision hno effeon the cost of equity. B.investment anthe capitstructure cisions are interpennt C.the cost of equity increases the use of in the capitstructure increases. C is correct. The cost of equity rises with the use of in the capitstructure (e.g., with increasing financileverage). B的意思不太理解。

2022-04-24 00:01 1 · 回答

NO.PZ2021091701000028问题如下 Accorng to Mogliani anMiller’s Proposition II without taxes: A.the capitstructure cision hno effeon the cost of equity. B.investment anthe capitstructure cisions are interpennt C.the cost of equity increases the use of in the capitstructure increases. C is correct. The cost of equity rises with the use of in the capitstructure (e.g., with increasing financileverage). 如题

2022-04-17 22:03 2 · 回答

NO.PZ2021091701000028 investment anthe capitstructure cisions are interpennt the cost of equity increases the use of in the capitstructure increases. C is correct. The cost of equity rises with the use of in the capitstructure (e.g., with increasing financileverage). MOM proposition需要展开讲解下,

2022-02-01 15:51 1 · 回答