ch-10 .1 l趁everage.pptVIP

Chapter 10 Capital structure and Leverage  资本结构和杠杆 Operational Risks Leverage经营风险与经营杠杆 Financial Risks Leverage 财务风险与财务杠杆 Optimal Capital Structure 最优资本结构 Theories of Capital Structure 资本结构理论 I. Leverage Analysis 杠杆分析 (I). Business Risk (Operational Risk) Leverage 1. Business Risk： Business or operational risk is a part of specific risk, sometimes be called as nonsystematic risk. It stands for uncertainty of business operation without considering debts. It depends only on business operation of the firm. It is not related