162 The Basics of financial economeTrics

TABLE 8.1 Leverage for Corporate Bond Spread Illustration

Issue

Leverage

Point

Issue

#

Leverage

Point

Issue

#

Leverage

Point

Issue

#

Leverage

Point

1 0.013702 31 0.013795 61 0.025113 91 0.011934

2 0.010794 32 0.008615 62 0.014047 92 0.044409

3 0.019632 33 0.018478 63 0.013732 93 0.034539

4 0.025846 34 0.013795 64 0.014753 94 0.029392

5 0.028057 35 0.012994 65 0.009094 95 0.014565

6 0.012836 36 0.008759 66 0.023258 96 0.019263

7 0.014437 37 0.013293 67 0.015577 97 0.019100

8 0.027183 38 0.013522 68 0.063569 98 0.027901

9 0.008394 39 0.013767 69 0.033131 99 0.015033

10 0.026077 40 0.012888 70 0.012423 100 0.013543

11 0.017687 41 0.171633 71 0.016903 101 0.013887

12 0.005725 42 0.020050 72 0.014743 102 0.010884

13 0.008469 43 0.019344 73 0.010000 103 0.008541

14 0.017604 44 0.014446 74 0.015290 104 0.018612

15 0.028824 45 0.014750 75 0.018074 105 0.019873

16 0.024891 46 0.016669 76 0.010866 106 0.011579

17 0.021291 47 0.012692 77 0.010507 107 0.020055

18 0.027499 48 0.019541 78 0.009622 108 0.036536

19 0.017078 49 0.051719 79 0.007122 109 0.008974

20 0.022274 50 0.020500 80 0.008845 110 0.017905

21 0.020021 51 0.020222 81 0.040731 111 0.017995

22 0.021077 52 0.013348 82 0.015223 112 0.005809

23 0.025114 53 0.008207 83 0.011651 113 0.009238

24 0.034711 54 0.013002 84 0.012244 114 0.016268

25 0.027129 55 0.013384 85 0.009014 115 0.028688

26 0.008034 56 0.014434 86 0.008117 116 0.018651

27 0.009757 57 0.015949 87 0.019357 117 0.016205

28 0.011686 58 0.016360 88 0.024764 118 0.020799

29 0.008090 59 0.017263 89 0.023501 119 0.017949

30 0.095189 60 0.031493 90 0.015906 120 0.020301