Jumah, Zahid; Younas, Zahid Irshad; Safdar, Nabeel; … - In: Cogent economics & finance 11 (2023) 1, pp. 1-28
in a firm's leverage decision during economic uncertainty and recommends increasing debt financing to incentivize value … corporate leverage relationship. Using stepwise regression analysis and annual firm-level data of 2,534 U.S. firms listed at … NYSE over 1995-2018, we provide novel evidence that cash holdings significantly and partially mediate the EPU-leverage …