the standard theory of co.apters 1 and 2 when we covered Modigliani-Miller As we discussed in the Ch apital structure that has been the mainstay of text- books is the trade-off theory This argues that the benefit of debt is the tax shield and the cost is the deadweight costs of bankruptcy. The tradi tional view was that these deadweight
Uint I. Basic listening Practice 1. Script M: Third World countries must improve their economies if they want to raise their W: But how can they do that when developed countries control world trade? Q: Which of the following is true?
