Value Relevance of Degree of Leverage: Evidence from India

This manuscript aims to explore the value relevance of accounting numbers with a focus on leverage effects, both operating and financial, in the context of listed manufacturing firms in India. This manuscript is unique in terms of understanding the usefulness of degrees of operating and financial leverage, the impact of degrees of operating and financial leverage on systematic risk of common stock of the firms, and value of the firms operating in the manufacturing sector of India.