Abstract–Some Evidence on Unexpected Empirical Relationships between Operating Risk and Financial Leverage

Dwight Grant

Journal of Financial and Quantitative Analysis, 1974, vol. 9, issue 5, 765-765

Abstract: The research report abstracted here addresses the question: do firms of low risk before financial leverage introduce relatively more financial leverage than firms of relatively high risk before leverage? Most of the received theory of corporation finance suggests an affirmative response. Our empirical work encourages us to be far more cautious.

Date: 1974
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