问题已解决
資本成本和財務(wù)風(fēng)險成反比例?這句話對嗎
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不對。資本的成本率越高,財務(wù)風(fēng)險也越高。他們是成正比例的。
01/09 15:32
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01/09 15:34
債權(quán)的財務(wù)風(fēng)險大于股權(quán)吧?
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01/09 15:34
是的,因為股權(quán)可以不還,但債務(wù)是要還的啦!
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01/09 15:36
但是債權(quán)的資本成本率不是低于股權(quán)嗎?債權(quán)可以抵稅,那資本成本和財務(wù)風(fēng)險不就是反比例嗎?
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01/09 15:42
我明白了,你說的是有稅MM理論對吧。您是在問財管考試?
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01/09 15:43
資本的成本率越高,財務(wù)風(fēng)險也越高。(我的這句話,是站在實務(wù)上說的,企業(yè)資本成本包含債務(wù)與股本兩塊)
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01/09 15:44
債權(quán)的財務(wù)風(fēng)險大于股權(quán)吧?
(這也是實務(wù),債務(wù)有到期償還,股權(quán)沒有期限)
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01/09 15:45
對,我問得是財管資本結(jié)構(gòu)優(yōu)化里面的每股收益分析法,我理解的對嗎
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01/09 15:46
稍等一下哈,我翻一下書,哈哈。我考了有幾年了
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01/09 16:19
但是債權(quán)的資本成本率不是低于股權(quán)嗎?債權(quán)可以抵稅,那資本成本和財務(wù)風(fēng)險不就是反比例嗎?
同學(xué),我給您發(fā)證下,債權(quán)的比例越高,總體的資本成本就會越低。
但是,債權(quán)可以抵稅,那資本成本和財務(wù)風(fēng)險不就是反比例嗎?(這個,還是不對的,債務(wù)風(fēng)險過高,財務(wù)風(fēng)險仍然會增加,他們是一個U字型的關(guān)系,并非線性的反比例)
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