Leveraged Small Value Equities

@article{Chingono2015LeveragedSV,
  title={Leveraged Small Value Equities},
  author={Brian Kundai Chingono and Daniel Rasmussen},
  journal={Econometric Modeling: Corporate Finance & Governance eJournal},
  year={2015}
}
The size premium and value premium are well documented in academic studies. We contribute to this literature by finding that leverage – as defined by long term debt divided by enterprise value – enhances the average returns of a small-value investment strategy. At the company level, our results indicate that there is a positive interaction between leverage and value. We test a variety of quality and technical factors to develop a theory of what works in leveraged small-value equity investing… Expand
6 Citations

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