Data Update 6 for 2023: A Wake up call for the Indebted?
Musings on Markets
FEBRUARY 27, 2023
In fact, at a zero percent tax rate, the optimal debt ratio, if you define it as the mix that minimizes cost of capital is zero. It is one reason that a banking focus on total assets and market value, when lending to a firm, can lead to dysfunctional lending and troubled banks.
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