Sökning: "Valeriia Dzhamalova"

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  1. 1. Can the use of leverage adjustment techniques give reliable estimates of beta risk?

    Master-uppsats, Lunds universitet/Nationalekonomiska institutionen

    Författare :Valeriia Dzhamalova; [2010]
    Nyckelord :financial leverage; unlevered beta; Hamada’s leverage adjustment; Business and Economics;

    Sammanfattning : Title: Can the use of leverage adjustment techniques give reliable estimates of beta risk? Purpose: Using the sample of American companies within the five industries for the period 1994-2009 the following hypothesis shall be tested: does the use of leverage adjustment techniques over-penalize the cost of equity for a high level of debt to equity ratio. Methodology: To analyze how well the leverage adjustment works under the assumption of constant risk classes, the cross-sectional linear regression is used. LÄS MER