作者homejudy0312 (田田辣:))
看板CFAiafeFSA
标题[问题] 请教财工问题
时间Tue Jun 2 00:05:43 2015
这题试着以r_m,r_f,r_A求解,却一直卡住
想请强者好心帮忙解答一下~感激不尽!!
Assume capital markets are perfect
(no corporate income taxes or other imperfections)
and the Miller and Modigliani propositions hold.
At a debt-to-equity ratio of 25%, a firm has a debt beta of 10% and
an equity beta of 121.25%. The firm issues more debt and repurchases
equity to bring its debt-to-equity ratio to 50%, where its debt beta
is 17.5%.
Question 1: Beta of assets in perfect capital markets
What is the firm’s beta of assets at the debt-to-equity ratio of 50%?
Question 2: Beta of equity in perfect capital markets
What is the firm’s beta of equity at the debt-to-equity ratio of 50%?
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