NO.PZ2021091701000021
问题如下:
Which of the following is least likely to affect the capital structure of Longdrive Trucking Company? Longdrive has moderate leverage today.
选项:
A.
The acquisition of a major competitor for shares
B.
A substantial increase in share price
C.
The payment of a stock dividend
解释:
C is correct. Stock dividends, like stock splits, have no impact on the value of a company’s equity. Issuing shares to acquire a competitor would increase equity relative to debt in the capital structure. Share price appreciation would also increase the market value of equity, thus increasing equity relative to debt.
没理解股价怎么影响资本结构,公司在算自己的目标资本结构时不也是用book value吗?能不能请老师讲讲股价影响资本结构的原理?