An Empirical Analysis of Microeconomic Leverage of Listed Companies——Case Study of Real Estate Industry

The paper analyzes financial leverage,operating leverage and combined leverage of listed companies in real estate industry,and finds that the microeconomic leverage is ineffective to some extent,which is embodied in the following aspects: financial leverage is too weak to produce the intended effect;there is a positive correlation between operating leverage and financial leverage,which indicates that listed companies don't control risks by means of balance of leverage;and listed companies don't give consideration to risk control and leverage effect but pay more attention to risks.