这牵涉到公司管理层，股东，债权人的利益博弈，很多书上面都有介绍。从融资成本上还有利益关系人方面，都有介绍得。

equite finance, will deduce gearing level and risk,  but cost of finance will be will higer.

but may lost a control from voting power of share

debt finance, fixed interest rate, therefore the cost of finance is lower, but will increase gearing, if gearing increased, the investors will required more return from their investment. the credit rating maybe reduce and also result the difficult of borrowing from banks and other financial instituations.