Financial strategy: Planning and managing the corporate leverage position
作者:
Carl M. Sandberg,
Wilbur G. Lewellen,
Kenneth L. Stanley,
期刊:
Strategic Management Journal
(WILEY Available online 1987)
卷期:
Volume 8,
issue 1
页码: 15-24
ISSN:0143-2095
年代: 1987
DOI:10.1002/smj.4250080103
出版商: John Wiley&Sons, Ltd.
数据来源: WILEY
摘要:
AbstractAmong the important elements of a company's strategic plan is its decision about the degree of financial leverage it elects to imbed in its capital structure. A simple operational framework that can assist in framing that decision, which concentrates on the likelihood of being unable to meet fixed financial charges, is presented. The model is tested empirically, and support for its potential usefulness in the financial planning process is found.
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