题目
Wang Securities had a long-term stable debt-to-equity ratio of 0.65. Recent bank borrowing for expansion into South America raised the ratio to 0.75. The increased leverage has what effect on the asset beta and equity beta of the company?
选项
A.The asset beta and the equity beta will both rise.
B.The asset beta will remain the same and the equity beta will rise.
C.The asset beta will remain the same and the equity beta will decline.
答案
B
解析
Answer: B Asset risk does not change with a higher debt-to-equity ratio. Equity risk rises with higher debt. 、 这道题目问的是W证券的长期稳定负债权益比为0.65。为向南美扩张而借入的资金将这一比率提高到了0.75。增加的杠杆对公司的资产贝塔和权益贝塔有什么影响?资产风险不会随着更高的负债权益比率而改变，资产贝塔不变；债务越高，股票风险越大，权益贝塔变大。因此B选项正确