pecking order theory
C1CEFR level
60/100Rarity: rare
TechnicalRegister
The theory that firms prefer to finance investment first from retained earnings, then debt, and only lastly from new equity, owing to information asymmetry.
Consistent with pecking order theory, management tapped internal cash before approaching the debt markets.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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