Hortlund, Per - Economics Institute for Research (SIR), … - 2005
SSE/EFI Working Paper Series in Economics and Finance, No 611
November, 2005
The Long-Term Relationship …,
Mikael Stenkula, and Jan Wallander.
*
Stockholm School of Economics; and The Ratio Institute, P. O. Box
5095, SE-102 42 … indeed surprising. That leverage in-
creases returns seems to follow directly from the very nature
of business. In its …