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. Book versus Market : The book debt ratio is built around using the accounting measure of equity, usually shareholder's equity, as the value of equity.
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