国际金融（原书第12版） 教学课件 ppt 作者 大卫.艾特曼（David Eiteman）阿瑟.斯通西 chapter 16.pdfVIP

Multinational Business Finance, 12e (Eiteman, et al) Chapter 16 Sourcing Debt Globally 16.1 Optimal Financial Structure Multiple Choice 1) Which financial economists are most closely associated with the financial theory of optimal capital structure? A) Modigliani and Miller B) Fama, Fisher, Jensen, and Roll C) Black and Scholes D) Markowitz and Sharpe Answer: A Diff: 1 Topic: 16.1 Optimal Financial Structure Skill: Recognition 2) For most firms, the cost of capital decreases to a low point as the firm ________ debt financing. At some point beyond this optimal level, the cost of capital increases as the amount of debt ________. A) decreases; increases. B) decreases; decreases. C) increases; increases. D) increases; decreases. Answer: C Diff: 2 Topic: 16.1 Optimal Financial Structure Skill: Conceptual 3) One of the most important factors in making debt less expensive than equity is A) the tax deductibility of depreciation. B) the tax deductibility of equity. C) the tax deductibility of dividends. D) the tax deductibility of interest. Answer: D Diff: 2 Topic: 16.1 Optimal Financial Structure Skill: Recognition 1 Copyright © 2010 Pearson Education, Inc.  4) One of the most important factors in making debt less expensive than equity is A) the seniority of equity obligations to debt claims. B) the tax deductibility of dividends. C) the tax deductibility of equity. D) the seniority of debt obligations to equity claims. Answer: D Diff: 2 Topic: 16.1 Optimal Financial Structure Skill: Recognition 5) Which of the following is NOT a factor offsetting the tax advantage of debt as a source of financing? A) Increased agency costs. B) Increased probability of financial distress (bankruptcy) due to fixed interest payments. C) Alternative tax shields to those supplied by interest payments. D) All of the above off