They must constantly weigh the benefits of debt over equity (interest payments are typically tax deductible; dividends owed to the holders of equity are not) against the risk of financial distress (angry creditors are worse than irate shareholders).

他们必须不断权衡债务相对于股权的好处（利息支付通常可以免税；欠股权持有人的股息不能）与财务困境的风险（愤怒的债权人比愤怒的股东更糟糕）。