Nguyen, Tristan; Schuessler, Alexander - In: International Journal of Accounting and Finance 4 (2014) 4, pp. 341-357
Considering mixed results of several studies that analyse the influence of total leverage on stock returns, we focus on a more differentiated ratio in our approach: 'total debt to (total capital + long term debt)' [TD/(TC + LTD)] which treats short- and long-term debt differently. In this...