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Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. The levered P/E ratio Martin L Leibowitz Financial Analysts Journal; Nov/Dec 2002; 58, 6; ABI/INFORM Global pg. 68

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Page 1: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

The levered P/E ratioMartin L LeibowitzFinancial Analysts Journal; Nov/Dec 2002; 58, 6; ABI/INFORM Globalpg. 68

Page 2: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 3: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 4: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 5: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 6: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 7: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 8: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 9: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 10: The levered P/E ratio Martin L Leibowitz Financial ...webs.ucm.es/info/jmas/doctor/perap.pdf · Thus, the P/E rises with increasing return on assets, r', as shown in Figure 2 for

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.