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Journal articles on the topic 'Long-Term Leverage'

Author: Grafiati

Published: 10 March 2023

Last updated: 19 July 2025

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1

Holzhauer, Hunter, Xing Lu, Robert McLeod, and Jamshid Mehran. "How Long is Too Long? Volatility-Based Holding Strategies for Leveraged Bull and Bear ETFs." Journal of Finance Issues 12, no. 1 (2013): 35–52. http://dx.doi.org/10.58886/jfi.v12i1.2294.

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Since their favorable introduction in the U.S. in 2006, leveraged bull and bear exchangetraded funds (ETFs) have provided short-term investors with the opportunity to express their directional views regarding a wide variety of indexes. However, unlike traditional unleveraged ETFs, leveraged ETFs are not intended to be used as long-term trading instruments. Instead, leveraged ETFs are designed to return a multiple of their benchmark index on a daily basis. Leveraged ETFs are structured only for short-term investors because these funds must be rebalanced each day to prevent leverage from becomin

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KOUT, Wided. "On the Properties of Leveraged ETFs." Finance Bulletin 1, no. 2 (2019): 50–62. http://dx.doi.org/10.20870/fb.2018.1.2.2314.

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In this paper, we examine if, for a successful long-term investment of leveraged ETFs, it is necessary to adjust the level of leverage according to the fluctuations of the financial markets. For this purpose, we illustrate in particular the behavior of the Leverages ETF based on the optimal leverage introduced by Giese (2009). This latter one, which is based on the growth rate expectation, behaves as a function of the prevailing market environment. More precisely, it implies that the investor should use high leverage in low volatility markets and low leverage in high volatility markets. We stu

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3

Ahmed, Bilal, and Zunaidah Sulong. "The Influence of Cash Flows Volatility on The Relationship Between Leverage and Accruals Earnings Management." Academic Journal of Social Sciences (AJSS ) 7, no. 2 (2023): 163–82. http://dx.doi.org/10.54692/ajss.2023.07021992.

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This study examines how cash flow volatility affects leverage and accruals earnings management. The research objective achieves by analyzing a sample of non-financial Pakistani enterprises from 2004 to 2018. The paper examines leverage and earnings management in business risk, specifically cash flow volatility. The leverage includes short term, long term, and total debt, while cash flows volatility is used as business risk. The earnings management level is measured by accruals earnings management also by using John Modified Model that suggests measuring earnings management approach by using di

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Ajello, Andrea, Ander Perez-Orive, and Bálint Szőke. "Sticky Leverage: Comment." Finance and Economics Discussion Series, no. 2023-051 (July 2023): 1–30. http://dx.doi.org/10.17016/feds.2023.051.

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We revisit the role of long-term nominal corporate debt for the transmission of inflation shocks in the general equilibrium model of Gomes, Jermann, and Schmid (2016, henceforth GJS). We show that inaccuracies in the model solution and calibration strategy lead GJS to a model equilibrium in which nominal long-term debt is systematically mispriced. As a result, the quantitative importance of corporate leverage in the transmission of inflation shocks to real activity in their framework is 6 times larger than what arises under the rational expectations equilibrium.

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Murdhaningsih, Murdhaningsih, Bunga Anisah Harared, and M. Anas Hilmy Malik. "Pengaruh Leverage terhadap Kinerja Keuangan Perusahaan." Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah 6, no. 3 (2023): 3560–69. http://dx.doi.org/10.47467/alkharaj.v6i3.5154.

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This study aims to determine the effect of leverage analysis on the company's financial performance, either simultaneously or partially. Leverage analysis will be described by the debt ratio, debt to equity ratio, long-term debt to equity ratio and long-term debt to total asset ratio while the company's financial performance is measured by return on equity. The population in this study are companies listed on the Indonesian stock exchange. . The sampling method used is purposive sampling method. The research data were obtained from the sample companies which were downloaded from the Indonesian

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admin, admin, and Khaled Aldiabat. "The Impact of Big Data on the Nexus between Financial Leverage and Stock Price Prediction." Journal of Intelligent Systems and Internet of Things 15, no. 1 (2025): 29–36. https://doi.org/10.54216/jisiot.150103.

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This research explores the impact of financial leverage on stock price prediction among listed industrial Jordanian companies. Moreover, the effect of big data as a moderating variable on the relationship between financial leverage and stock price prediction. The study uses two types to measure financial leverage according to the terms [short-term and long-term]. The study results point out that only short-term leverage influences stock price prediction among listed industrial Jordanian companies, which it maybe because short-term leverage has a direct impact on a firm situation compared with

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Nugroho, Vina Christina, and Kim Sung Suk. "The Relationship Between Leverage, Maturity, and Investment Decision: Evidence From Emerging Markets." Organizations and Markets in Emerging Economies 10, no. 1 (2019): 147–64. http://dx.doi.org/10.15388/omee.2019.10.00008.

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In this paper, we examine simultaneous relationship between leverage, maturity and over(under)- investment in emerging markets. We divide leverage into short term and long term to investigate the relation between current and future simultaneous relationship between leverage and investment decision, between debt maturity and investment decision, and between leverage and debt maturity. This research used twenty emerging market data from 2006 – 2016. First of all, our results show that firms in emerging markets prefer to use short-term debt to long-term debt to minimize the underinvestment proble

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Ho, Cynthia Sin Tian, and Björn Berggren. "The Effect of Accessibility to Bank Branches on Small- and Medium-Sized Enterprise Capital Structure: Evidence from Swedish Panel Data." Journal of Risk and Financial Management 18, no. 1 (2024): 14. https://doi.org/10.3390/jrfm18010014.

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This paper aims to investigate the effects of accessibility to bank branches on the capital structure of small- and medium-sized enterprises (SMEs) by analysing the change in three different leverage measures (total, short-term and long-term leverage). The analysis was conducted using random effects models on two data samples. The full sample consisted of 19,064 SMEs while the other sample used to estimate the long-term leverage consisted of 8707 SMEs over two years, 2007 and 2013. The results show that the distance to the nearest bank branch has a negative relationship with total leverage and

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Stoiljković, Aleksandra, Slavica Tomić, Bojan Leković, and Milenko Matić. "Determinants of Capital Structure: Empirical Evidence of Manufacturing Companies in the Republic of Serbia." Sustainability 15, no. 1 (2022): 778. http://dx.doi.org/10.3390/su15010778.

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The subject of research in the paper is the capital structure of companies in the Republic of Serbia. The research sample consists of companies that operated in the manufacturing industry in the Republic of Serbia in the period 2006–2020. The aim of the research is to identify firm-specific variables that have significant influence on the capital structure of the analyzed companies. Using a panel data methodology, three leverage models were estimated: long-term leverage, short-term leverage, and total leverage. The research results confirm the importance of company size, profitability, tangibi

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Kyereboah-Coleman, Anthony. "The determinants of capital structure of microfinance institutions in Ghana." South African Journal of Economic and Management Sciences 10, no. 2 (2013): 270–79. http://dx.doi.org/10.4102/sajems.v10i2.587.

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Using a panel data methodology, this study examines the determinants of capital structure of 52 microfinance institutions (MFIs) in Ghana. The empirical results show that the MFIs are highly leveraged and that their capital structure is explained partly by standard finance theory and by other unconventional variables. Specifically, the study confirms that leverage is positively related to asset tangibility, with small MFIs using short-term and large MFIs using long-term debt. Though, the findings confirm that leverage is inversely related to risk, they also suggest that some MFIs enjoy long-te

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Gomes, João, Urban Jermann, and Lukas Schmid. "Sticky Leverage." American Economic Review 106, no. 12 (2016): 3800–3828. http://dx.doi.org/10.1257/aer.20130952.

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We develop a tractable general equilibrium model that captures the interplay between nominal long-term corporate debt, inflation, and real aggregates. We show that unanticipated inflation changes the real burden of debt and, more significantly, leads to a debt overhang that distorts future investment and production decisions. For these effects to be both large and very persistent, it is essential that debt maturity exceeds one period. We also show that interest rate rules can help stabilize our economy. (JEL E12, E31, E44, E52, G01, G32, G35)

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M.B.M., Amjath, and Sufeera N.F. "Analysis of Factors Determining Capital Structure of Firms Listed in Colombo Stock Exchange in Sri Lanka." Journal of Economics, Finance And Management Studies 4, no. 11 (2021): 2275–87. https://doi.org/10.47191/jefms/v4-i11-20.

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Capital structure describes a mix of long-term debt capital and equity capital employed by a company to fund its operation and finance its assts. The objective of the study is to identify the determinants of the capital structure and examine whether each of the determinants have significant impact on capital structure. A sample of 25 beverage food and tobacco sector firms listed on Colombo Stock exchange(CSE) in Sri Lanka over the period of 2016 to 2020 were considered for the study. The independent variables such as profitability (PROR), firm size (FMSZ), tangibility (TANR) and liquidity (LIQ

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Ghasemi, Maziar, and Nazrul Hisyam Ab Razak. "The Impact of Liquidity on the Capital Structure: Evidence from Malaysia." International Journal of Economics and Finance 8, no. 10 (2016): 130. http://dx.doi.org/10.5539/ijef.v8n10p130.

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<p class="Content">For many years, liquidity of a company’s asset and its effect on the optimal debt level has been a controversial issue among scholars in finance studies. Prior studies have demonstrated that in some countries, asset liquidity increased debt level while in other countries liquid companies were less leveraged and more regularly financed by their own capital. This study investigates the effect of liquidity on the capital structure among the 300 listed companies in the Main market of Bursa Malaysia from 2005 to 2013 fiscal years. Pooled OLS is applied to investigate the im

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Meishan Chua, Nazrul Hisyam Ab Razak, Annuar Md Nassir, and Mohamed Hisham Yahya. "Speed of Adjustment towards Target Leverage in the ASEAN Countries." International Journal of Business and Society 22, no. 1 (2021): 313–31. http://dx.doi.org/10.33736/ijbs.3177.2021.

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This study aims to investigate the speed of adjustment towards target total debt, long-term debt and short-term debt of the Association of South East Asian Nations (ASEAN) namely Malaysia, Singapore, Indonesia and Thailand. The sample of this study included 400 publicly listed firms from 2007 to 2017. Analyses were done with two-step System Generalised Method of Moments (SYS-GMM). Using large sample, the results showed that ASEAN firms are under-adjusted and adjusting with the speed of 30.95%, 37.49% and 40.11% toward total debt, long-term debt and short-term debt, accordingly. To close half o

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HUSSAIN, SADDAM, Chunjiao Yu, and Xiao Ling. "DETERMINANTS AFFECTING THE CAPITAL STRUCTURE DECISION OF A FIRM (A CASE STUDY OF TEXTILE SECTOR IN PAKISTAN)." International Journal of Management & Entrepreneurship Research 3, no. 3 (2021): 118–33. http://dx.doi.org/10.51594/ijmer.v3i3.214.

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In this paper, we have examined the influence of specific factors based on a capital structure sample of five Pakistani textile sector (Leveraged) companies. The secondary data came from an analysis of the balance sheets of five companies listed on the Karachi Stock Exchange between 2004 and 2014.Regression and correlation analysis on the panel data shows that profitability is negatively correlated with leverage ratio, while tangibility is positively correlated with leverage ratio, but not significantly. Firm size and firm growth are also positively and significantly correlated with leverage.

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Lamichhane, Pitambar. "Nexus between firm fundamentals and financial leverage in Nepalese nonfinancial firms." Management Dynamics 23, no. 2 (2020): 13–32. http://dx.doi.org/10.3126/md.v23i2.35801.

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This paper aims to analyze the nexus between firm fundamentals and financial leverage in Nepalese non-financial firms for the period 2000/01-2017/18 applying descriptive and causal comparative research design. Short-term, long-term and total financial leverage ratios are dependent variables and firm-fundamental variables are considered as explanatory variables. The result of this paper shows that Nepalese firms are highly levered. Regression results of this study reveals that profitability, earning variability, liquidity are major determinants of financial leverage. This study concludes that s

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Tsolas, Ioannis E. "Efficiency and Determinants of Capital Structure in the Greek Pharmaceutical, Cosmetic and Detergent Industries." Journal of Risk and Financial Management 14, no. 12 (2021): 579. http://dx.doi.org/10.3390/jrfm14120579.

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The purpose of this paper is to investigate the relationship between a firm’s capital structure (i.e., leverage) and its operating environment, taking into account firm (i.e., efficiency, asset structure, profitability, size, age and risk) and industry effects. For a sample of Greek pharmaceutical, cosmetic and detergent (PCD) enterprises, firm efficiency was estimated using bootstrapped data envelopment analysis (DEA), and a leverage model was produced using ordinary least squares (OLS) regression. The findings confirm the significance of firm efficiency (i.e., the franchise-value hypothesis

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Maimako, Livinus Nkuri, Ahmed Razman Abdul Latiff, and Wan Fadzila Wan Yusoff. "Effects Of Board Characteristics On Financial Sustainability Of Quoted Nigerian Banks." International Journal of Finance Research 5, no. 3 (2024): 299–318. http://dx.doi.org/10.47747/ijfr.v5i3.1965.

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Using Agency theory to examine the relationship between board characteristics and corporate governance financial sustainability. Board size, diversity, and independence are autonomous, but financial leverage is controlled. This study examined how board features impact Nigerian banks' financial sustainability. Stata statistical tool was used to assess how board independence, diversity, and size impact financial sustainability in a convenience sample of thirteen Nigerian banks operating on the Nigerian stock exchange from 2014 to 2020. Financial leverage-controlled board characteristics. Indepen

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Sung Suk Kim, Rita Juliana, and Liza Handoko. "The effects of economic policy uncertainty and large investment project on leverage." Asian Academy of Management Journal 28, no. 2 (2023): 333–69. http://dx.doi.org/10.21315/aamj2023.28.2.12.

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The dominant view on firms’ financial leverage suggests a stable, long-term leverage ratio, while previous studies recognise that factors like macroeconomic fluctuations and unanticipated financing needs can cause deviations from this target leverage. This study seeks to explore the joint effect of economic policy uncertainty (EPU) and large long-term investments on firms’ leverage decisions, specifically focusing on how these factors influence target leverage dynamics and financial flexibility. This study uses 2,865 listed firms in NYSE, NASDAQ, and AMEX from 1990 to 2019. The data is analyse

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Murwaningsari, Etty. "PENGARUH KESEMPATAN PERTUMBUHAN DAN INVESTASI JANGKA PANJANG TERHADAP LEVERAGE DAN FUTURE EARNINGS RESPONSE COEFFICIENT." Media Riset Bisnis & Manajemen 13, no. 1 (2013): 1–19. http://dx.doi.org/10.25105/mrbm.v13i1.1121.

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The objectives of this research are to analyze direct effects of growth opportunity and long term investment towards future earnings response coefficient, as well as their indirect effects towards future earnings response coefficient through leverage as intervening variable. This research used secondary data from manufacturing companies listed in Indonesia Stock Exchange (IDX) between 2002-2011. Number of samplesused in this research are 111 companies. Method used in this researchis Structure Equation Model (SEM) processed using AMOS 6. Results from this research demonstrated that growth oppor

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Gungoraydinoglu, Ali, and Özde Öztekin. "Financial Leverage and Debt Maturity Targeting: International Evidence." Journal of Risk and Financial Management 14, no. 9 (2021): 437. http://dx.doi.org/10.3390/jrfm14090437.

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We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences in the relative importance of institutional factors in explaining actual as opposed to target capital structures. Targets and target deviations are plausibly influenced by the institutional environment. Firms from countries with strong legal institutions target lower leverage and higher long-term debt, whereas better-functioning financial systems result in lower target leverage and long-term debt. Financial crisis has shifted the desired structure of the securities toward sho

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Rosário, Albérico Travassos, and Anna Carolina Boechat. "How Sustainable Leadership Can Leverage Sustainable Development." Sustainability 17, no. 8 (2025): 3499. https://doi.org/10.3390/su17083499.

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Sustainable leadership plays a pivotal role in fostering long-term economic, social, and environmental development. As businesses increasingly integrate sustainability into their core strategies, leaders must adopt approaches that align profitability with ethical responsibility. This paper explores how sustainable leadership contributes to sustainable development by examining key leadership principles, decision-making frameworks, and corporate strategies. The discussion highlights the shift from short-term financial goals to long-term value creation, emphasising stakeholder engagement, ethical

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Khusna, Lana Milatul, and Dadan Rahadian. "How fintech companies' capital structure influences their financial performance." Edelweiss Applied Science and Technology 9, no. 5 (2025): 851–58. https://doi.org/10.55214/25768484.v9i5.7035.

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This research examines the impact of leverage, the Debt to Equity Ratio (DER), long-term debt, and short-term debt on the Return on Assets (ROA) of financial technology (FinTech) companies. A quantitative approach with a descriptive method was employed, involving 12 FinTech companies selected through purposive sampling, observed from Q1 2020 to Q4 2023. The analysis was carried out using multiple linear regression, classical assumption tests, and hypothesis tests. The results of the study show that leverage and DER have a positive effect on ROA, which means that the use of debt can increase pr

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Kotim, Kotim, Wahidahwati Wahidahwati, and Nur Fadjrih. "PENGARUH ASIMETRI INFORMASI, LEVERAGE, DAN KOMPENSASI BONUS TERHADAP EARNING MANAGEMENT PADA PERUSAHAAN GO PUBLIC." Jurnal Ilmu Manajemen dan Akuntansi Terapan (JIMAT) 14, no. 1 (2023): 77. http://dx.doi.org/10.36694/jimat.v14i1.439.

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The study aims to examine 1) The effect of Information asymmetry on earning management, 2) The Effect of bonus compensation on earning management, 3) The leverage effects on earning management of the manufacturing companies that were anlisted in BEI. The independent variables applied are information asymmetry, leverage and bonus. The methodology used multiple linear regression analysis and purposive sampling which comprising the whole number of 162 sample in 2008-2016. The research findings indicated that between the listed variables, information asymmetry and leverage hold positive impacts on

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Morresi, Ottorino. "Capital structure in blockholder-dominated firms: a closer look on corporate ownership and control." Corporate Ownership and Control 7, no. 3 (2010): 86–104. http://dx.doi.org/10.22495/cocv7i3p7.

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In countries where holding control takes on much relevance it is arguable that capital structure choices are shaped in response to ownership characteristics. These issues are explored in the Italian context being dominated by pyramidal groups and majority-controlled firms. The results show that (1) family firms are more indebted than non-family counterparts and, within family firms, (2) founding-family controlled ones are more reliant on debt; (3) family firms exploit control-enhancing devices along with long-term leverage; (4) higher cash flow rights are associated with a lower leverage; (5)

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Kalaycıoğlu, Zeynep, and Ahmet Kurtaran. "What Kind of Cycle Do Seasoned Equity Offerings Create on The Company's Financial Structure? BIST Application with Panel ARDL Error Correction Model." Sosyoekonomi 32, no. 61 (2024): 191–212. http://dx.doi.org/10.17233/sosyoekonomi.2024.03.10.

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This study examines the effects of fundamental public offering indicators in seasoned public offering companies on current ratio, return on equity and financial leverage ratio in the long and short term. For this reason, the Panel ARDL error correction model was applied by using the data of 40 stocks between 2005-2022. The analysis results are consistent with the literature, and it is found that the degree of financial leverage decreased and liquidity increased after the public offering; it was emphasised that this financial recovery has regressed in the long term. In this context, a perspecti

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Reid, Lindsay. "Finding a Peace that Lasts." Journal of Conflict Resolution 61, no. 7 (2015): 1401–31. http://dx.doi.org/10.1177/0022002715611231.

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How does leverage vary across different mediators? What influence does this variation have on mediation outcomes? Extant literature has equated mediation leverage with material power. Leverage, however, is context dependent and comprised of two dimensions: capability and credibility. Capability leverage is a function of economic resources and power, while credibility leverage derives influence from historical and cultural ties that bolster a mediator’s contextual knowledge of a conflict. I hypothesize that mediators with capability leverage are more likely to achieve short-term success, wherea

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Mili, Khaled, Ismail Bengana, Fatiha Guenaoua, Zakaria Khedir, MAGDY ELSAYED Tork, and Osman Elwasila E. Idress. "The Impact of Leverage on Stock Earnings. The Case of the Abu Dhabi Stock Market." Journal of Management World 2024, no. 4 (2024): 831–39. https://doi.org/10.53935/jomw.v2024i4.542.

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This study investigates the relationship between leverage and stock earnings in the Abu Dhabi stock market from 2006 to 2015, employing a time series computed tomography (CT) scan methodology. The dependent variable, earnings per share (EPS), is analyzed concerning various leverage ratios, including the Debt-to-Assets Ratio (DA), Debt-to-Property Ratio (DP), Long-Term Debt-to-Assets Ratio (LDA), and Long-Term Debt-to-Property Rights Ratio (LDP). Our findings reveal a positive effect of the DP ratio on leverage, while a negative impact is evident with the LDP ratio. Through a static analysis mo

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Schad, Rainer. "Competition Between Volatility and Overall Market Gain and the Performance of Leveraged Index Funds." International Journal of Financial Research 9, no. 3 (2018): 20. http://dx.doi.org/10.5430/ijfr.v9n3p20.

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A simple yet powerful mathematical model is developed for comparison of the performance of leveraged funds versus that of their underlying index. The model strictly separates the pure market volatility from the actual long term gain of the market. This allows to study the interplay between volatility of various amplitude and gain. The fund performance is analyzed for different factors of leverage and clear limits for still acceptable market volatility are identified. For low volatility values the performance of leveraged index funds significantly exceeds the performance of what the leverage fa

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LEUNG, TIM, and HYUNGBIN PARK. "LONG-TERM GROWTH RATE OF EXPECTED UTILITY FOR LEVERAGED ETFs: MARTINGALE EXTRACTION APPROACH." International Journal of Theoretical and Applied Finance 20, no. 06 (2017): 1750037. http://dx.doi.org/10.1142/s0219024917500376.

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This paper studies the long-term growth rate of expected utility or expected return from holding a leveraged exchanged-traded fund (LETF), which is a constant proportion portfolio of the reference asset. We develop a martingale extraction approach to tackle the path-dependence in the expectation and determine the long-term growth rate through the eigenpair associated with the infinitesimal generator of a time-homogeneous Markovian diffusion. The long-term growth rates are derived explicitly under a number of models for the reference asset, including the geometric Brownian motion model, GARCH m

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Barrett, Matt, Will Maize, and Tony Da Costa. "Using Machine Learning to Predict Long-Term Rectifier Trends." Materials Performance 61, no. 7 (2022): 28–32. https://doi.org/10.5006/mp2022_61_7-28.

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We explore how rectifier voltage and current measurements can inform pipeline engineers and technicians on the health, performance, and operation of their cathodic protection (CP) assets and predict the future operation of existing and newly installed CP systems. We leverage years of data from monitoring units installed on CP rectifiers combined with site-specific details describing the location and its CP system provided by pipeline operators to train a machine learning model.

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Dewasurendra, Sagara, Pedro Judice, and Qiji Zhu. "The Optimum Leverage Level of the Banking Sector." Risks 7, no. 2 (2019): 51. http://dx.doi.org/10.3390/risks7020051.

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Banks make profits from the difference between short-term and long-term loan interest rates. To issue loans, banks raise funds from capital markets. Since the long-term loan rate is relatively stable, but short-term interest is usually variable, there is an interest rate risk. Therefore, banks need information about the optimal leverage strategies based on the current economic situation. Recent studies on the economic crisis by many economists showed that the crisis was due to too much leveraging by “big banks”. This leveraging turns out to be close to Kelly’s optimal point. It is known that K

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Nikica Grubišić. "LONG-TERM PROSPECT OF OIL AND GAS PRICES." Journal of Energy - Energija 58, no. 1 (2022): 14–25. http://dx.doi.org/10.37798/2009581290.

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Ever since the market was formed, people have been interested in the future prices fluctuations. The one whose cognition was closer to the realization had leverage in comparison to other participants of the market competition. When it comes to oil, it becomes all the more interesting. Oil is a loyal companion of the cyclic development of capitalism, and earnings from changes in oil prices have become greater than the earnings from the production itself. Therefore, this paper endeavours to consider the long-term oil and gas prices prospect through capital market analysis rather than through the

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Mulvey, John M., Cenk Ural, and Zhuojuan Zhang. "Improving performance for long-term investors: wide diversification, leverage, and overlay strategies." Quantitative Finance 7, no. 2 (2007): 175–87. http://dx.doi.org/10.1080/14697680701198028.

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D'Mello, Ranjan, Mark Gruskin, and Manoj Kulchania. "Shareholders valuation of long-term debt and decline in firms' leverage ratio." Journal of Corporate Finance 48 (February 2018): 352–74. http://dx.doi.org/10.1016/j.jcorpfin.2017.11.006.

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Md., Sajadul Islam Sarker, and Ealahi Mamun Fazly. "Impact of Financial Leverage on Firm Performance: Evidence from Telecommunication Industry in Bangladesh." International Journal of Science and Business 19, no. 1 (2022): 20–27. https://doi.org/10.5281/zenodo.7471253.

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The study's objective is to investigate how significantly financial leverage affects business performance in Bangladesh's telecommunications sector. According to data from the past eleven years (FY 2010–2020), there is a considerable difference between short-term loans and long-term loans that affects the company performance of the Bangladeshi telecommunications sector. We have employed correlation, regression, and hypothesis testing to do quantitative analysis. In this paper, secondary data have been employed. Secondary information was gathered from the financial report and jour

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Fardelia Safira, Della, and Tituk Diah Widajantie. "PENGARUH PROFITABILITAS, UKURAN PERUSAHAAN, LEVERAGE, DAN PENGUNGKAPAN CSR TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIS PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI TAHUN 2015-2019)." E-Bisnis : Jurnal Ilmiah Ekonomi dan Bisnis 14, no. 1 (2021): 103–12. http://dx.doi.org/10.51903/e-bisnis.v14i1.374.

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The Company has short-term and long-term. In the short term the company aims to maximize current profits, while in the long term it aims to increase the value of the company itself. This research aimed to examine and analyze the effect of profitability, company size, leverage, and CSR disclosure to the value of manufacturing companies listed on the IDX in 2015-2019. While, the sampling collection technique used purposive sampling with 10 samples which fulfilled the criteria. The data analysis technique used multiple regression linear with SPSS (Statistical Product and Service Solutions). In th

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Chen, Caiyun, Xuefei Peng, and Liufang Yu. "Interest Rate Liberalization and Firm Leverage in China: Effects and Channels." Discrete Dynamics in Nature and Society 2023 (January 11, 2023): 1–20. http://dx.doi.org/10.1155/2023/7926625.

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We examine whether and how interest rate liberalization affects firm leverage in China. We find that interest rate liberalization exerts a negative effect on the leverage of firms. Specifically, firms experience a reduction in total leverage during the liberalization period, and firms’ short-term leverage declines more relative to long-term leverage. Mechanism analysis shows that firms with high information asymmetry enjoy more decline in leverage relative to firms with low information asymmetry, and further, liberalization policy enables the reduction in credit transaction costs, which indica

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Wang, Danni. "Undertake Corporate Social Responsibility, Achieve Long-term Development." Modern Economics & Management Forum 5, no. 1 (2024): 114. http://dx.doi.org/10.32629/memf.v5i1.1649.

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With the development of society and the transformation and upgrading of the economy, consumers' awareness of corporate responsibility is becoming more and more important. This is also reflected in the increased attention of ERKE and Pang Donglai and other enterprises before, which is also the theme of this article: How can companies leverage the public attention brought by CRS to achieve the long-term development? There are usually three means: Fully adopt channels such as social media, news platforms, and e-commerce services to further expand its popularity; clarify the positioning of the ent

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Valipoor Hafshejani, Keyvan, Mojtaba Motalebian Chaleshtori, and Bahareh Banitalebi Dehkordi. "Study of the effect of short-term and long-term institutional shareholders on the capital structure of companies listed in the Tehran Stock Exchange." Journal of Management and Accounting Studies 4, no. 04 (2019): 32–38. http://dx.doi.org/10.24200/jmas.vol4iss04pp32-38.

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Managers when making decisions regarding capital structure, look for a way of financing so that it can add to the company's value. Many researches have been done and different theories have been emerged to explain the best model to justify the formed capital structure. It is expected that institutional shareholders, because of their supervisory mechanism, affect decisions regarding the financing and somewhat decrease problems of representativeness; therefore, the aim of this study was to investigate the effect of short-term and long-term institutional shareholders on the capital structure. Met

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Çekrezi, Anila. "Impact Of Firm Specific Factors On Capital Structure Decision: An Empirical Study Of Albanian Firms." European Journal of Sustainable Development 2, no. 4 (2013): 135. http://dx.doi.org/10.14207/ejsd.2013.v2n4p135.

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This paper attempts to explore the impact of firm specific factors on capital structuredecision for a sample of 65 non- listed firms, which operate in Albania, over the period2008-2011.In this paper are used three capital structure measures ; short –term debt tototal assets (STDA), long- term debt to total assets (LTDA) and total debt to total assets(TDTA) as dependent variables and four dependent variables: tangibility(TANG),liquidity (LIQ), profitability(ROA=return on assets) and size (SIZE). The investigationuses panel data procedure and the data are taken from balance sheets and include on

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Liew, Jim Kyung-Soo, and Ahmad Ajakh. "Volatility-Adjusted 60/40 versus 100—New Risk Investing Paradigm." Journal of Risk and Financial Management 13, no. 9 (2020): 190. http://dx.doi.org/10.3390/jrfm13090190.

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In this study we examine the volatility-adjusted 60/40 rule at the individual company level. We document that strong diversification benefits exist over the long-term, and that both the equity and corporate bonds exhibit positive expected drifts. For our sample of 30 large-cap companies, given that corporate bond positions have shown less volatility than the equity position, we leveraged the resultant portfolio of 60/40 to match that of the equity position. When we compare the two investments, we document an outperformance of 100 to 200 bps per year, even after we account for the leverage cost

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Michael, T. Sinebe, Jeroh Edirin, and O. Ebiaghan Frank. "Moderating Role of Leverage on the Relationship Between Business Models and Value Relevance of Accounting Information." GPH-International Journal of Business Management 8, no. 03 (2025): 17–31. https://doi.org/10.5281/zenodo.15073089.

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This study examines the moderating role of leverage on the relationship between business models and the value relevance of accounting information in Nigerian firms. Using a sample of 70 firms listed on the Nigerian Exchange Group, the study employs regression analysis to assess the impact of various leverage metrics (Debt-to-Equity Ratio, Debt-to-Total Assets, and Long-Term Debt-to-Equity Ratio) on the relationship between business models and stock performance, with market capitalization as a control variable. The findings reveal that business models alone do not significantly impact stock per

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Junqi, Liu, Sher Abbas, Liu Rongbing, and Najabat Ali. "The impact of digital financial development on corporate leverage ratio: The case of a-share listed non-financial enterprises in China’s Shanghai and Shenzhen stock exchanges." PLOS ONE 19, no. 8 (2024): e0302978. http://dx.doi.org/10.1371/journal.pone.0302978.

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This study investigates the impact of digital finance on corporate leverage ratios. The study employed a large sample of China’s Shanghai and Shenzhen A-share non-financial listed enterprises from 2011–2020. The study’s results depict that the development of digital finance can significantly reduce the leverage ratio of enterprises. We empirically identified that digital finance affects the difference in the term structure of the corporate leverage ratio. It was found that the development of digital finance has a significant negative impact on enterprises’ short-term and long-term leverage rat

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Rasool, Faiz, Kashif Hamid, and Muhammad Yasir Saeed. "Corporate Policy and Capital Structure Decisions: Empirical Evidence from Non- Financial Sectors of Pakistan." Global Economics Review VI, no. II (2021): 121–30. http://dx.doi.org/10.31703/ger.2021(vi-ii).10.

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Capital structure is expressed as the mixture of long-term debt and equity that a company uses in its financing composition. The importance of long-term financing in any business cannot be misjudged because it identifies the choice of optimal financing mix for the long-run survival of the business. The basic purpose of this study is to identify the behavior of financing composition through main corporate financial decisions in the non-financial sector of Pakistan. Data has been taken for 52 non-financial companies for 2015-2020. Outcomes of the study have been retrieved through OLS, Fixed Effe

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Dr., A. S. Naveenkumar. "A STUDY ON CAPITAL STRUCTURE AND FINANCIAL LEVERAGE WITH REFERENCE TO RELIANCE INDUSTRIES." International Journal of Computational Research and Development 3, no. 1 (2018): 187–91. https://doi.org/10.5281/zenodo.1296997.

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Capital structure refers to the mix of long term sources of funds, such as debentures, long-term debt, preference share capital and equity share including reserves and surplus. Some companies don’t plan their taken by the finance manager without formal planning. These companies may prosper in the short run, but ultimately they may face considerable difficulties in raising funds to their activities the financial manager should plan an optimum capital structure for his company. The optimum capital structure is obtained when the market value share is maximum. The main objective of the study

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Rehman, Ajid ur. "Mean reverting leverage policy in China: theory and evidence from industrial and sectorial level unit root analysis." Journal of Asia Business Studies 12, no. 3 (2018): 290–306. http://dx.doi.org/10.1108/jabs-10-2016-0138.

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Purpose This study aims to apply unit root test to investigate the behavior of Chinese firms toward their leverage policy. The study is based on two influential and competing theories of capital structure. Design/methodology/approach This study applies unit root test to investigate the behavior of Chinese firms toward their leverage policy. The study is based on two influential and competing theories of capital structure. Trade off theory advocates that firms have a target level of leverage ratio and that firms try to achieve that optimal leverage ratio, whereas pecking order theory argues tha

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Devi, Shinta Prasetia, Siget Fitrianto Haribowo, Vidya Damayanti, Umar Hamdani, and Ely Siswanto. "Pengaruh Leverage Terhadap Profitabilitas Pada PT.Pabrik Kertas Tjiwi Kimia Tbk." Jurnal Ekonomi, Bisnis dan Manajemen 3, no. 4 (2024): 98–113. https://doi.org/10.58192/ebismen.v3i4.2738.

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This study examines the effect of leverage on the profitability of PT Pabrik Kertas Tjiwi Kimia Tbk during the 2020–2024 period. Using a causal research method with secondary data obtained from financial reports published on the Indonesia Stock Exchange (IDX), the study analyzes the relationship between Debt to Equity Ratio (DER) as the leverage indicator and Return on Assets (ROA) as the profitability indicator. The results indicate a significant negative relationship between leverage and profitability. Increased DER is associated with a decrease in ROA, suggesting that excessive debt reduces

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Alshakhanbeh, Mohammad Abed Al Qader, Anwar Allah Pitchay, Md Aslam Mia, Rami Mohammad Bassam Abdel Ra’uof Nairoukh, and Mohamad Isa Abd Jalil. "The Impact of Liquidity and Leverage on Firm Value of Public Listed Firms in Jordan." Information Management and Business Review 17, no. 1(I) (2025): 103–16. https://doi.org/10.22610/imbr.v17i1(i).4343.

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This study investigates the impact of liquidity and leverage on the firm value of publicly listed service firms in Jordan, providing insights into financial management practices in emerging markets. Using secondary data from 38 service firms listed on the Amman Stock Exchange between 2011 and 2021, the study measures firm value through Tobin's Q, liquidity via the cash ratio (CHR) and quick ratio (QR), and leverage through short-term debt (SD) and long-term debt (LD). Employing Partial Least Squares Structural Equation Modeling (PLS-SEM), the findings reveal that the quick ratio positively inf

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Dr., S. Devaki, and Chitra C. "A COMPARATIVE ANALYSIS ON FINANCIAL PERFORMANCE OF INDIAN AUTOMOBILE COMPANIES WITH REFERENCE TO MAHINDRA AND MAHINDRA LIMITED AND MARUTI SUZUKI INDIA LIMITED." International Journal of Interdisciplinary Research in Arts and Humanities 3, no. 1 (2018): 216–19. https://doi.org/10.5281/zenodo.1218344.

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The automobile industry is an important part of the manufacturing sector and considered to be an indicator of economic development of any country. The present study aims to measure the short term and long term solvency, working capital requirements and profitability of Mahindra and Mahindra Limited and Maruti Suzuki India Limited by applying ratios and statistical tools like Mean, Standard Deviation, Co-efficient of Variation, CAGR and test of hypothesis- t test. A comparative analysis of the results has been made. The study has been undertaken for the period of ten years from 2006-07 to 2015-

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