NO.PZ2023040301000165
问题如下:
A company's management may choose not to use financial
leverage because the company has:
选项:
A.an investment-grade credit
rating
a high degree of operating leverage
a lower net debt to EBITDA ratio than its peers
解释:
B is correct. The
degree of financial leverage and the degree of operating leverage together
equal the degree of total leverage in the business. If the company already has
a high degree of operating leverage, using financial leverage may increase
total leverage and risk to too high a level.
A is incorrect. An
investment-grade credit rating generally indicates that the company could
borrow economically, which would be a reason to use financial leverage.
C is incorrect. A
lower net debt to EBITDA ratio than its peers is an indicator of borrowing
capacity, which would be a reason to use financial leverage.
经营杠杆,固定成本越高,EBIT越低,分子越小,经营杠杆不是越小吗,但固定成本大,杠杆应该高啊