Hovnanian Enterprises , all activities made possible in part by junk bonds . 2 . Concepts of leverage and appropriate risk . As we discuss the concepts of leverage we have to mark that it is a notion whose meaning has evolved as a result of financial innovation during recent decades . Traditionally , leverage related to the relative proportions of debt and equity funding a venture . The higher the proportion of debt , the more leverage . A leveraged venture entailed more HYPERLINK "http /www .riskglossary .com...











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