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甜甜 · 2022年11月04日

达到最优资本结构时WACC是不是最小

  1. CFA I
  2. Corporate Issuers

NO.PZ2021091701000029

问题如下：

The current weighted average cost of capital (WACC) for Van der Welde is 10%. The company announced a debt offering that raises the WACC to 13%. The most likely conclusion is that for Van der Welde:

选项：

A.

the company’s prospects are improving.

B.

equity financing is cheaper than debt financing

C.

the company’s debt/equity has moved beyond the optimal range.

解释：

C is correct. If the company’s WACC increases as a result of taking on additional debt, the company has moved beyond the optimal capital range. The costs of financial distress may outweigh any tax benefits to the use of debt.

RT

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1 个答案

王琛_品职助教 · 2022年11月05日

嗨，从没放弃的小努力你好：


是的，这是最优资本结构的特点

当资本结构达到最优资本结构时，WACC 最小，公司价值最大

这道题的解题思路，也请参考：https://class.pzacademy.com/qa/110645

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