Examlex
The variation in the pitch of the voice is
Interest Tax Shield
The decrease in income taxes that occurs by subtracting a permitted deduction, like debt interest, from taxable income.
Levered Firms
Companies that employ debt (loans or bonds) in their capital structure alongside equity (stocks).
Unlevered Firms
Companies that operate without using debt or borrowed capital in their capital structures.
Financial Distress Cost
Expenses associated with a company struggling financially, including legal fees, restructuring costs, and impaired ability to conduct business.
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