Embedded Leverage
收藏NBER2012-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18558
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资源简介：
Many financial instruments are designed with embedded leverage such as options and leveraged exchange traded funds (ETFs). Embedded leverage alleviates investors' leverage constraints and, therefore, we hypothesize that embedded leverage lowers required returns. Consistent with this hypothesis, we
提供机构：
美国国家经济研究局
创建时间：
2012-11-01
