The pecking order theory suggests that managers prefer to first use internally generated equity to finance new

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The pecking order theory suggests that managers prefer to first use internally generated equity to finance new projects. Does this preference mean that these funds represent an even cheaper source of funds than debt? Justify your answer.

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Fundamentals of corporate finance

ISBN: 978-0470876442

2nd Edition

Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates

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