PHN CA TH n by v c im ring ca ti sn. L thuyt nh i: Ti sn c nh hu hnh thng d dng nh gi iu ny lm gim chi ph kit qu ti chnh.

h. Chi ph kit qu ti chnh thp v cc vn chi ph i din lin quan n n t i d bo mt mi quan h cng chiu gia c tnh hu hnh v n by. Mt d on tng t l cc cng ty c nhiu chi ph ln nh chi ph hnh chnh (SG&A) v chi ph nghin cu v pht trin (R&D) c nhiu ti sn v hnh v do s dng t n. L thuyt trt t phn hng d bo ngc li. Bt cn xng thong tin thp lin quan ti ti sn hu hnh lm cho vic pht hnh c phn t tn km hn. Do , nhng cng ty c nhiu ti sn hu hnh s c t l n thp. Nh vy, trn l thuyt th TSC hu hnh s c tng quan (+) hoc (-) i vi n by ti chnh. n by v thu L thuyt nh i: Thu sut cao s lm tng li ch gim thu t vic s dng n. V vy tn dng li ch t tm chn thu th DN s s dng n nhiu hn khi thu sut tng cao. Do DN s thay th nhng tm chn thu khng c ngun gc t n (nh chi ph khu hao, khu tr thu u t) bng tm chn thu t n. Nh vy theo l thuyt nh i th thu v n by c mi tng quan (+) n by v ri ro L thuyt nh i: Doanh nghip c dng tin bin ng mnh phi i mt vi chi ph kit qu ti chnh cao hn nn phi s dng n t hn. Dng tin cng bin ng mnh th cng lm gim kh nng tn dng li ch tm chn thu v ri ro ny gy bt li cho cc c ng (v d khi dng tin bin ng mnh, cng ty thiu ht rt nhiu tin m li s dng n nhiu th s gy rt nhiu ri ro cho cc c ng). L thuyt trt t phn hng: ngc li. Theo , c th k vng vo cc cng ty c c phiu bin ng mnh v ri ro li c tng quan cng chiu vi n by ca doanh nghip. Nh vy, trn l thuyt th ri ro s c tng quan (-) hoc (+) i vi n by ti chnh. n by v nhn t t ph nh cung cp (kh nng tip cn th trng n) Khi cc cng ty b hn ch tip cn th trng n th s vay n t L thuyt trt t phn hng: cc cng ty c xp hng tn dng thp nn s dng t n hn v c vn c phn nhiu hn 2 ci ny lin quan g ti nhau? Mt ci l kh nng tip cn th trng n, mt ci l xp hng tn nhim