Journal article
The impact of leverage on firm investment: Canadian evidence
Abstract
This study examines the impact of financial leverage on the firms' investment decisions using information on Canadian publicly traded companies. It shows that leverage is negatively related to investment and that this negative effect is significantly stronger for firms with low growth opportunities than those with high growth opportunities. The paper tests the robustness of these results using alternative empirical models and, in addition, uses …
Authors
Aivazian VA; Ge Y; Qiu J
Journal
Journal of Corporate Finance, Vol. 11, No. 1-2, pp. 277–291
Publisher
Elsevier
Publication Date
March 2005
DOI
10.1016/s0929-1199(03)00062-2
ISSN
0929-1199