碩士 / 中國文化大學 / 會計研究所 / 88 / The purpose of this study is to examine both theortical and empirical knowledge on the relationship between degree of operating leverage, degree of financial leverage, intrinsic business risk and systematic risk in Taiwan stock market. Mensah’s(1992) model has been employed in this study. Second, to test if tradeoff effect existing between degree of operating leverage and degree of financial leverage in Taiwan stock market. Last but not least, the study analyzes and compares different techniques for the estimation of the degree of operating leverage and the degree of financial leverage.
The finding indicate that operating leverage, financial leverage and intrinsic busi-ness risk have less significate positive impact on systematic risk, and intrinsic business risk factor has more significant relationship with systematic risk. Empirical result of the tradeoff behavior between a firm’s operating and financial leverages are not unani-mously supportive. The association of leverage degree with systematic risk and the tradeoff behavior may have differential that result from the differnet thchniques for the estimation of the degree of operating leverage and the degree of financial leverage.
| Identifer | oai:union.ndltd.org:TW/088PCCU0385015 |
| Date | January 2000 |
| Creators | Jong-Haur Yang, 楊忠豪 |
| Contributors | Da — Bai Shen, 沈大白 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 73 |
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