References for Financial Leverage

1. Barclay, M.J., Morellec, E. and Smith Jr., C.W.: On the Debt Capacity of Growth Options. The Journal of Business, 2006 (79), 37-59. 2. Lang, L., Ofek, E., Stulz, R. M., 1996. Leverage, investment, and firm growth, Journal of Financial Economics 40, 3-29. 3. Wajahat Ali and Syed Hammad Ul Hassan. 2010. Relationship between profitability and working capital policy of Swedish companies. Essayists, Retrieved from Swedish University Essays. 4. Altman, Edward I., 1968, Financial ratios, discriminate analysis, and the prediction of corporate bankruptcy, Journal of Finance 23, 589-609. 5. Goyal, Vidhan K., Kenneth Lehn, and Stanko Racic, 2002, Growth opportunities and corporate debt policy: The case of the U.S. defense industry, Journal of Financial Economics 64, 35-59. 6. Rao, Bhanoji, Hidden Costs Of Debt(Letters To The Editor), in The Economic And Political Weekly, September 18,1999 7. Abdul Malek Bin Zakaria Zaidi Bin Isa. 1997. Statistical Properties of financial ratios. Malaysian Management Review, Retrieved from http//mgv.mim.edu.my/MMR/9712/971206 html 8. Klein, Thomas M.(1994),External Debt Management :An Introduction, World Bank Technical Paper 245 9. Sidaoui, Jose, Macroeconomic aspects of the management of external debt and liquidity reflections on the Mexican experience. 10. Lyandres, E., Zhdanov, A., 2005. Underinvestment or Overinvestment: The Effects of Financial Leverage on Investment. EFA 2006 Zurich Meetings 11. Raheman, A., & Nasr, M. (2007). Working capital management and profitabilitycase of Pakistani firms. International Review of Business Research Papers 3(1), 279-300. 12. Van Horne, J. C., & Wachowicz, J. M. (2004). Fundamentals of Financial Management (12ed.). New york: Prentice Hall.The Impact of Leverage on Hedge Fund Risk and Return, by Thomas Schneeweis, George Martin, Hossein Kazemi and Vassilis Karavas, Center for International Securities & Derivatives Markets, 2004. 13. Calculations of Risk-based Leverage, by D.L. Chertok, Quantitative Developer, Deerfield Capital, LLC, unpublished paper, December 2004. 14. Volatility, Leverage and Returns, by Jan Loeys and Nikolaos Panigirtzoglou, Global Market Strategy, J.P. Morgan Securities Ltd., London, October 19, 2005. 15. Ann, S., D. J. Denis and D. K. Denis (2006), Leverage and Investment in Diversified Firms, Journal of Financial Economics, Vol. 79, pp. 31737. 16. Strebulaev, I.A., Yang, B., 2006. The Mystery of Zero-Leverage Firms. Working Paper, Stanford University 17. Aivazian, V.A., Ge, Y., Qiu, J., 2005a. The Impact of Leverage on Firm Investment: Canadian Evidence. Journal of Corporate Finance 11, 277-291.

18. Denis, D., Sibilkov, V. 2009, Financial Constraints, Investment, and the Value of Cash Holdings. Review of Financial Studies, Forthcoming. 19. Iona, A., Leonida, L., Ozkan, A., 2004. Determinants of Financial Conservatism: Evidence form Low-Leverage and Cash-Rich UK Firms. Working Paper, University of York. 20. Miller, M. H., 1977. Debt and Taxes. Journal of Finance 32, 261-275.