haku: @indexterm GEARING / yhteensä: 211
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| Tekijä: | Hull, R. |
| Otsikko: | Leverage ratios, industry norms, and stock price reaction: an empirical investigation of stock-for-debt transactions |
| Lehti: | Financial Management
1999 : SUMMER, VOL. 28:2, p. 32-45 |
| Asiasana: | FINANCIAL MANAGEMENT GEARING SHARE PRICES |
| Kieli: | eng |
| Tiivistelmä: | In this paper, the author extends the stock-for-debt research by investigating whether stock value is influenced by how a firm changes its leverage ratio in a relationship to its industry leverage ratio norm. The author finds that announcement-period stock returns for firms moving "away from" industry debt-to-equity norms are significantly more negative than returns for firms moving "closer to" these norms. |
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