explanation for a wide range of corporate policies such as leverage, share issuance and repurchases, M&A payment method, cash …

function on too thin layer of capital - high leverage - owing to a misreading of the degree of risk embodied in ever more … complex financial products and markets. Third, the breakdown was unpredictable and inevitable, given the “excessive” leverage … following questions: what is an optimal leverage or capital requirement that balances the expected growth against risk? What are …

Most firms deleverage from their historical peak market-leverage (ML) ratios to near-zero ML, while also markedly … positive leverage targets …