问题如下:
Increasing leverage will lead to which of the followings:
选项:
A.βequity increases;βasset increases
B.βequity increases; βasset remain the same
C.βequity decreases; βasset decreases
解释:
B is correct. When leverage increases, it will affect equity risk instead of asset risk.
Leverage 具体是指啥呢?是指 D/E ratio 么?还是什么?
如果光看公式
这个公式里,因为β asset 是不变的,所以 β equity 的变化随着 D/E 的变化而变化,所以是同步增长的?