NO.PZ2023090507000017
问题如下：
The value-reducing impact of financial distress or bankruptcy increases if the firm has:
选项：
A.higher business risk.
lower operating and financial leverage
assets with a ready secondary market.
解释：
A is correct.
The probability and cost of financial distress rise for firms with higher business risk and more debt in the capital structure. In contrast, the cost of financial distress is lower for firms with lower operating and financial leverage and for firms with assets that have a secondary market and can be easily sold.
VL⬇️= VU+ tD- PV (Costs of financial distress)⬆️，杠杆低，经营不是应该减少么？
