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Article: Combined leverage and stock risk.
- Article from:
- Quarterly Journal of Business and Economics
- Article date:
- January 1, 1991
- Author:
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Copyright informationCOPYRIGHT 1991 University of Nebraska-Lincoln. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Combined Leverage and Stock Risk
Abstract
A firm's degree of total leverage commonly is considered to be the
product of degrees of operating and financial leverage. Mandelker and
Rhee's empirical evidence supports such a view. O'Brien and
Vanderheiden question conventional leverage proxies and suggest the
improved measures used here.
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