The Debt Overhang Problem Explains That

The debt overhang problem explains that:

A) in an attempt to take advantage of tax shields,firms excessively issue debt increasing the risk of bankruptcy.
B) the threat of bankruptcy does not affect a firm's relationships with its lenders.
C) firms may pass up profitable investments if equity holders under invest.
D) equity holders have a tendency to take on overly risky projects,even when they have a negative NPV.