Contraction flexibility, operating leverage, and financial leverage
Journal of Management Science and Engineering, 2020 This study investigates the impacts of contraction flexibility and operating leverage on financial leverage from the perspective of the agency conflict between shareholders and debtholders.
Zhun Li, Qiang Li, Yong Zeng
doaj +4 more sources
Predicting Operating Income via a Generalized Operating-Leverage Model [PDF]
International Journal of Financial Studies, 2023 We propose a generalized, practitioner-oriented operating-leverage model for predicting operating income using net sales, cost of sales, depreciation, and SG&A.
Sherwood Lane Lambert +2 more
doaj +3 more sources
Determining Force behind Value Premium: The Case of Financial Leverage and Operating Leverage [PDF]
Journal of Risk and Financial Management, 2020 The determining force behind the value premium is the matter of debate among the researchers. Some are of the opinion that the financial distress risk determines value premium whereas other theorize that value premium is basically the compensation for operating leverage (investment activity risk).
Muhammad Kashif +1 more
exaly +7 more sources
Analisis Pengaruh Company Size, Return on Assets, Financial Leverage, dan Operating Leverage terhadap Income Smoothing Practices pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia [PDF]
Binus Business Review, 2012 The primary objectives of this research is to learn the amounts of industrial company using income smoothing practices and effecting among company size, return on assets, financial leverage, and operating leverage with income smoothing practices neither ...
Auditya Williyarto Pradana +1 more
doaj +3 more sources
Pengaruh Pengungkapan EGS, Financial Leverage, Operating Leverage Terhadap Risiko Sistematis [PDF]
Journal of Economic, Bussines and Accounting (COSTING)Penelitian ini bertujuan untuk menganalisis pengaruh pengungkapan ESG, financial leverage, operating leverage terhadap risiko sistematis. Penelitian ini menggunakan motode kuantitatif. Data yang digunakan berupa esg score dan laporan keuangan yang terdapat di Bursa Efek Indonesia.
Aisyah Maharani, Christina Dwi Astuti
core +6 more sources
Non-cancellable Operating Leases and Operating Leverage [PDF]
European Financial Management, 2015 This paper explores the link between a firm's non-cancellable operating lease commitments and stock returns. Firms with more operating lease commitments earn a significant premium over firms with fewer commitments, and this premium is countercyclical ...
Dogan, F. G.
openaire +3 more sources
Audit Fees: A Further Evidence of the Role of Financial and Operating Liability Leverage [PDF]
بررسیهای حسابداری و حسابرسی, 2021 Objective: The aim of this study is to investigate the relationship between the debt leverage and the audit fees in the Tehran Stock Exchange. We considered the impact of the operating and financial liability leverage variables. In addition, the existing
Mohsen Imeni, Abbas Ali Daryaei
doaj +1 more source
THE IMPACT OF DEGREE OF FINANCIAL LEVERAGE AND DEGREE OF OPERATING LEVERAGE ON THE SYSTEMATIC RISK OF COMMON STOCK [PDF]
Malaysian E Commerce Journal, 2020 The aim of this study is that the to evaluate the effect of financial leverage and operating leverage on the systematic risk of stock. In trendy competitive business era, the power to extend come of the firm is usually depends on economical use of ...
Khadija Younas, Muhammad Sarmad
doaj +1 more source
Do CEO risk-reducing incentives affect operating leverage? Evidence from CEO inside debt holdings [PDF]
, 2023 Purpose: The purpose of this paper is to investigate the relationship between CEOs' inside debt holdings (pension benefits and deferred compensation) and the operating leverage of the firms they manage, with the aim to examine whether CEO incentives play
Bhabra, GS, Hossain, AT
core +1 more source
The Review of Asset Pricing Studies, 2021 Abstract We examine a simple measure of operating leverage: the ratio of fixed costs (measured by depreciation and amortization plus selling, general, and administrative expenses) to the market (or book) value of assets. We find that this measure of operating leverage positively predicts returns.
Huafeng (Jason) Chen +3 more
openaire +1 more source