Harvey, Campbell R. (contributor); Lins, Karl (contributor); … - 2003
percentage of assets in place or few growth
opportunities.
Event-study tests show significant differences in the abnormal returns …. Leverage itself,
however, is consistently negatively related to firm value.
4.2. Event study analysis
As some debt contracts …. We measure changes in shareholder value resulting from
individual debt issues using traditional event study methods. We …