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reachqi · 2019年11月30日

问一道题:NO.PZ201601200500004404

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问题如下:

4. Given its objective and the three possible corporate actions, Skylark is least likely to select:

选项:

A.

Corporate action 1.

B.

Corporate action 2.

C.

Corporate action 3.

解释:

C is correct.

At the current debt weight of 20%, the WACC is declining with increases in debt. If you calculate the WACC, it is currently 8.7% and would decline to 8.5% if the debt weight is 30%. Repurchasing shares or paying a dividend would increase the debt weight, which would reduce the WACC. Reducing debt would increase the WACC, so this is the corporate action that Skylark should be least likely to select.

“Repurchasing shares or paying a dividend would increase the debt weight” 如何增加了Debt的Weight?

1 个答案
已采纳答案

maggie_品职助教 · 2019年12月01日

回购股票和发红利相当于是股东出资的归还,所以equity下降,D/E上升。