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.
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.
这个 financial leverage、operating leverage和total leverage 有什么数量关系吗？
还是单纯两个放在一起考虑，组成了total。
