NO.PZ2016021705000028
问题如下:
Wang Securities had a long-term stable debt-to-equity ratio of 0.65. Recent bank borrowing for expansion into South America raised the ratio to 0.75. The increased leverage has what effect on the asset beta and equity beta of the company?
选项:
A.The asset beta and the equity beta will both rise.
B.The asset beta will remain the same and the equity beta will rise.
C.The asset beta will remain the same and the equity beta will decline.
解释:
B is correct.
Asset risk does not change with a higher debt-to-equity ratio. Equity risk rises with higher debt.
如果D/E 比例增加 (由 0.65 增加到 0.75) 那代表debt增加 equty不变或者变小的话值才能增加啊。为啥equty要跟着变大