Results 341 to 350 of about 3,250,741 (406)

Financial Leverage and Firm Performance: An Empirical Review and Analysis

East African Finance Journal
This study examines the impact of financial leverage on firm performance and value, focusing on the trade-offs between debt and equity financing. Financial leverage, the use of borrowed capital to finance business operations, can enhance profitability ...
John Davies Odhiambo, Christine Kanana Murori, Catherine Elsa Aringo   +2 more
semanticscholar   +1 more source

Financial leverage and firm efficiency: the mediating role of cash holding

Applied Economics, 2020
Agency cost theory suggests that a firm’s financial leverage is important to improve organizational efficiency. Using data of industrial companies of three biggest economies, this study analyzes how debt-financing decision affects firm efficiency and the
Haifeng Guo, Tenkir Seifu Legesse, Jiqiang Tang, Zhanghua Wu   +3 more
semanticscholar   +1 more source

Financial Leverage and Stock Return Comovement

SSRN Electronic Journal, 2020
We find that leverage-initiating stocks experience an increase in return comovement with existing leveraged stocks and a decrease in return comovement with existing zero-leverage stocks in the year after the leverage initiation event. In contrast, stocks that fully deleverage comove more with their new peers of zero-leverage stocks and less with their ...
Hung X. Do, Nhut H. Nguyen, Quan M.P. Nguyen   +2 more
openaire   +1 more source

Financial leverage, debt maturity, future financing constraints and future investment

, 2020
Purpose - This paper aims to investigate the impact of debt maturity on the relationship between financial leverage and future financing constraints. Moreover, it attempts to analyze the moderating role of short-term debt and the mediating role of future
Ehsan Poursoleiman, Gholamreza Mansourfar, S. Abidin   +2 more
semanticscholar   +1 more source

Financial intermediary leverage spillovers

Research in International Business and Finance, 2017
Abstract Using quarterly data for the United States (over the period from 1983 to 2014) and state-of-the-art financial econometrics, we explore for spillovers and interactions among the leverage levels of broker-dealers, commercial banks, and shadow banks and their volatilities. The key contribution to the literature is the estimation of a trivariate
Apostolos Serletis, Khandokar Istiak
openaire   +1 more source

Corporate Blockholders and Financial Leverage

SSRN Electronic Journal, 2018
AbstractThis research investigates the relation between corporate blockholders and firm financial leverage. Corporate blockholders—nonfinancial firms who hold more than five percent equity in another company—might affect firm policies through their business relations, monitoring, or expropriations.
openaire   +1 more source

Impact of liquidity and financial leverage on firm’s profitability – an empirical analysis of the textile industry of Pakistan

, 2019
This study aims to determine the impact of liquidity and financial leverage on the profitability, using a sample of 40 selected publicly quoted companies in the textile sector of the Pakistani economy.,Through quantitative approach, pooled panel ...
Asif Hussain Samo, Hadeeqa Murad
semanticscholar   +1 more source

The Puzzle of Financial Leverage Clienteles

The Journal of Finance, 1985
ABSTRACTEmpirically, it appears that common stock of publicly traded corporations with high‐debt ratios tends to be held by investors with relatively low marginal taxes while the stock in companies with little debt is held by investors in high‐tax brackets. A number of authors have argued that in an equilibrium similar to the one described by Miller [8]
Sarig, Oded, Scott, James
openaire   +1 more source

MARKET POWER, PROFITABILITY AND FINANCIAL LEVERAGE

The Journal of Finance, 1974
A NUMBER of studies have examined the relationship between market power, measured by seller concentration' or by the existence of entry barriers,2 and profitability, usually measured by the ratio of net income to the book value of stockholders' equity.
openaire   +1 more source

Operating leverage, financial leverage, and equity risk

Journal of Banking & Finance, 1983
Abstract The analysis investigates the combined leverage effect of a fixed capacity decision (fixed cost) plus debt on the risk of equity returns. It is argued that the traditional DOL-DFL calculation is incorrect. A correct calculation is given, using the fact that the capacity decision is endogenous to the firm's decision process.
openaire   +1 more source