Graduation Year

Fall 2013

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics-Accounting

Reader 1

Mitch Warachka

Reader 2

George Batta

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Terms of Use for work posted in Scholarship@Claremont.

Rights Information

© 2013 Larry Zhong

Abstract

Intangible assets have been the increasingly dominant primary source of market value creation. This paper investigates the relationship between leverage and various intangibles related ratios. An empirical analysis is conducted to quantitatively understand the impact that these ratios have on leverage. The results show that intangible assets have a clear significant positive relationship with leverage. Accounting based principles are used to provide reasoning behind the results, which include the difference in impact that internally generated intangible assets and acquired intangibles have on leverage.

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