Financial strategy: Planning and managing the corporate leverage position
提出一个简单框架，帮助公司规划财务杠杆水平，重点关注无法偿付固定财务费用的可能性，并通过实证检验支持其在财务规划中的实用性。
Abstract Among the important elements of a company's strategic plan is its decision about the degree of financial leverage it elects to imbed in its capital structure. A simple operational framework that can assist in framing that decision, which concentrates on the likelihood of being unable to meet fixed financial charges, is presented. The model is tested empirically, and support for its potential usefulness in the financial planning process is found.