欢欢 · 2021年10月23日
NO.PZ2021091701000032
问题如下：
Which of the following is least likely to be true with respect to optimal capital
structure?
选项：
A. The optimal capital structure minimizes WACC.
B. The optimal capital structure is generally close to the target capital
structure
C. Debt can be a significant portion of the optimal capital structure because of
the tax-deductibility of interest.
解释：
B is correct. A company’s optimal and target capital structures may be very
different from one another.
如题。。。。。。。。
王琛_品职助教 · 2021年10月31日
嗨，从没放弃的小努力你好：
老师上课说的太多债可能会破产呀？C的significant portion debt没有问题嘛？
债务多了是有破产风险，这点没错哈
但是选项 C 说了，因为考虑到了债务的税盾作用，所以在最优资本结构中，债务的比例可能较大 "can be"
另外，题目的考查方式，其实是一种非常经典的形式，least likely，或者 most likely，这种题目选出的答案，一定是最没有异议的哈
选项 B 错的最明显，所以这道题选 B 而不选 C
----------------------------------------------虽然现在很辛苦，但努力过的感觉真的很好，加油！
王琛_品职助教 · 2021年10月26日
嗨，努力学习的PZer你好：
题目问：下列关于最佳资本结构的表述，哪项最不准确 least likely to be true
选项 C 的表述是准确的，所以不选
选项 B 说：最优资本结构通常接近于目标资本结构。这个说法不准确
最优资本结构是理论值，目标资本结构是实际值，虽然说实际应该往目标去靠，但有时候二者并不相同
也请参考基础班讲义 P127
----------------------------------------------努力的时光都是限量版，加油！
欢欢 · 2021年10月30日
老师上课说的太多债可能会破产呀？C的significant portion debt没有问题嘛？
NO.PZ2021091701000032 问题如下 Whiof the following is least likely to true with respeto optimcapitstructure? A.The optimcapitstructure minimizes WAC B.The optimcapitstructure is generally close to the target capitstructure C.ca significant portion of the optimcapitstructure because of the tax-ctibility of interest. B is correct. A company’s optimantarget capitstructures mvery fferent from one another. 我记得老师说，实际上最优资本结构和目标资本结构应该是相等的。B错的原因是目标应该向最优靠近，而不是最优向目标靠近吗？
NO.PZ2021091701000032问题如下 Whiof the following is least likely to true with respeto optimcapitstructure? A.The optimcapitstructure minimizes WACC.B.The optimcapitstructure is generally close to the target capitstructureC.ca significant portion of the optimcapitstructure because of the tax-ctibility of interest. B is correct. A company’s optimantarget capitstructures mvery fferent from one another. 请一下C。。。
NO.PZ2021091701000032 问题如下 Whiof the following is least likely to true with respeto optimcapitstructure? A.The optimcapitstructure minimizes WAC B.The optimcapitstructure is generally close to the target capitstructure C.ca significant portion of the optimcapitstructure because of the tax-ctibility of interest. B is correct. A company’s optimantarget capitstructures mvery fferent from one another. RT
NO.PZ2021091701000032问题如下 Whiof the following is least likely to true with respeto optimcapitstructure? A.The optimcapitstructure minimizes WAC B.The optimcapitstructure is generally close to the target capitstructure C.ca significant portion of the optimcapitstructure because of the tax-ctibility of interest. B is correct. A company’s optimantarget capitstructures mvery fferent from one another. 可以下C吗？后半句没明白。他的意思是抵税可以使得企业价值上升？PPT 125页找到一句话the value enhancing effefrom tctibility of interest must compareagainst the value-recing impaof the cost of financistress.也没明白。
