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 positively related to the equity ß of the Sharpe/Lintner CAPM. They find for a sample of the S&P 500 firms that have been on that index continuously for more than 15 years, that ß...
