$29$

According to the pecking$-$order theory, when funding capital projects, firms should:

$1$

points

$01$:$56$:$59$

References

Multiple Choice

use internal financing first.

always issue debt so the market won't know when managers believe the stock is overvalued.

issue new equity first.

issue debt first.

always issue equity to avoid financial distress costs.

Mc

Graw