Lusk, Edward J.; HALPERIN, Michael; Yue, Li - In: Czech Journal of Economics and Finance (Finance a uver) 56 (2006) 3-4, pp. 168-177
The authors investigated Arnold’s conjecture that Leverage (Financial Gearing) and Operating Gearing should be … index continuously for more than 15 years, that ß is negatively associated with Leverage and Operating Gearing. Using Weill …’s results for transitional economies, the authors suggest that liquidity may provide an explanation for this anomalous ß-Gearing …