Work

The association between accounting and market-based risk measures

Year: 2005

Type: preprint

Abstract: The paper derives operating and financial measures of leverage and tests their association with market based measures of equity risk. It is the first such study to use purely accounting-based data to derive the leverage measures. In line with previous literature it conducts a new test on the relative importance of operating and financial leverage. The results suggest that operating costs have a greater impact.

Source: RePEc: Research Papers in Economics

Authors: Steven A. Toms, Dinh-Bang Nguyen, Aly Salama

Institution: White Rose University Consortium

Language: English

Topic: Financial Analysis and Corporate Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1575122120

Cites: 29

Cited by: 11

Related to: 10