On the Optimal Equity Ratio
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The study develops a theoretically grounded and empirically testable model for determining the optimal equity ratio for firms. This ratio is understood as the outcome of two simultaneously binding conditions: (1) minimizing the weighted average cost of capital (WACC) and (2) ensuring full equity coverage of certain “critical” assets, particularly items that are difficult to finance with debt such as shareholdings, liquid funds and land.
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Zenodo创建时间：
2025-08-06
