Most financial managers measure debt ratios from their companies book balance sheets. Many financial economists emphasize ratios
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Most financial managers measure debt ratios from their companies’ book balance sheets. Many financial economists emphasize ratios from market-value balance sheets. Which is the right measure in principle? Does the trade-off theory propose to explain book or market leverage? How about the pecking-order theory?
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The right measure in principle is the ratio derived from marketvalue balance sheets Book balance she...View the full answer
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Related Book For 
Principles of Corporate Finance
ISBN: 978-0077404895
10th Edition
Authors: Richard A. Brealey, Stewart C. Myers, Franklin Allen
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