Final answer:
Firms with high R&D intensity and growth opportunities typically have a lower leverage ratio.
Step-by-step explanation:
The statement is true. Firms that typically have a high degree of R&D intensity and growth opportunities tend to have a lower leverage ratio, all else equal. A high degree of R&D intensity implies that the firm invests a significant amount of resources and capital into research and development activities. These investments typically have a high degree of uncertainty and risk, which can make lenders and investors more hesitant to provide financing. As a result, firms with high R&D intensity and growth opportunities often have to rely more on internal financing sources and have a lower leverage ratio.