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factors cause actual capital structure to diverge targe...

Trang chủ Forums CFA® Program Level I CFA® level I – CORPORATE ISSUERS factors cause actual capital structure to diverge target capital structure

factors cause actual capital structure to diverge target capital structure

  • Tran Thi Thu Uyen
    Tài khoản VIP

    Nhờ thầy/cô giúp em câu này, vì sao lại chọn câu B. Em nghĩ dòng tiền se không ảnh hưởng tới capital chứ ạ. Em cảm ơn thầy cô.

    All else being equal, which of the following factors is least likely to cause a company’s actual capital structure to diverge from its target capital structure?  The company:

    A generated greater than anticipated operating cash flow.

    B refinanced maturing debt at a lower rate to reduce the cost of debt.

    C issued equity when management perceived company stock was overvalued.

     

    Giải thích: Although many companies have a target capital structure, various factors influence a company’s reliance on different funding sources and may result in the actual capital structure not matching the target.  However, refinancing maturing debt at a lower interest rate does not change the capital structure since the amount of debt is unchanged.  All else equal, reducing the interest rate on debt lowers the company’s WACC, but it would not alter the company’s capital structure.

    Giảng viên: Câu hỏi này hỏi Sales type lease so với direct finane lease thì có cái gì cao hơn: (chú ý: …rather than…). Có vẻ bạn đang hiểu lầm câu hỏi thành tác động của cả 2 loại lease so với không có cái lease nào.

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