Pure leverage decreases: A study of two junior-for-senior groups

Hull, Robert M.; Kerchner, Robert
January 1997
Quarterly Journal of Business & Economics;Winter97, Vol. 36 Issue 1, p51
Academic Journal
Presents a study on pure leverage decreases on junior-for-senior groups. Background on pure leverage decrease theory; Identification of junior-for-senior announcements between 1970 and 1989; Use of ordinary least squares (OLS) market model to determine excess return.


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