Question
What theory explains why some firms use zero debt in their capital structure? Despite the tax-shield benefits of debt, some firms use zero level of
What theory explains why some firms use zero debt in their capital structure?
Despite the tax-shield benefits of debt, some firms use zero level of debt in their capital structure. It appears that existing capital structure theories are unable to explain this zero debt puzzle, well. What theory explains why some firms use zero debt in their capital structure?
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
