Toms, S., Nguyen, D.T. and Salama, A. (2005) The association between accounting and market-based risk measures. Working Paper. Department of Management Studies, University of York , York.
Abstract
The paper derives operating and financial measures of leverage and tests their association with market based measures of equity risk. It is the first such study to use purely accounting-based data to derive the leverage measures. In line with previous literature it conducts a new test on the relative importance of operating and financial leverage. The results suggest that operating costs have a greater impact.
Metadata
Item Type: | Monograph |
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Authors/Creators: |
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Keywords: | systematic risk,operating leverage,rinancial leverage,beta,risk premium,United Kingdom |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > The York Management School |
Depositing User: | Sherpa Assistant |
Date Deposited: | 18 Jul 2007 |
Last Modified: | 16 Oct 2024 11:32 |
Status: | Published |
Publisher: | Department of Management Studies, University of York |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:2575 |