文章基本信息

标题：ANALYZING THE LEVERAGE EFFECT BY MEANS OF REGRESSION FOR COMPANIES LISTED AT THE BUCHAREST STOCK EXCHANGE – BSE EXCHANGE SEGMENT
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作者：Stanculescu, Andrei ; Brezeanu, Petre
期刊名称：Theoretical and Applied Economics
印刷版ISSN：1841-8678
电子版ISSN：1844-0029
出版年度：2011
卷号：5(558)(supplement)
期号：5(558)(supplement)
页码：331-335
出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：The financial theory admits that levered firms record a value surplus compared to unlevered firms, at least because of the tax savings, related to interest. However, incurred debt, especially the long term debt, has a more consistent influence on performance, as stated by the Modigliani-Miller model. To this respect, the paper proposes the empirical testing of this model, using financial-accounting data of firms listed on the Romanian capital market. In particular, the statistical significance of the leverage effect will be analyzed, on a sample of companies listed on the Bucharest Stock Exchange, from the BSE exchange segment. This study is an extension of our previous research concerns.
关键词：leverage effect; financial lever; financial return; regression; capital market.