Financial leverage and stock returns: evidence from an emerging economyFootnote¹

¹"This work has been fully supported by the Croatian Science Foundation under the project number 9481 Modelling Economic Growth – Advanced Sequencing and Forecasting Algorithm". "Any opinions, findings, and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of Croatian Science Foundation". Authors are thankful to anonymous referees for valuable comments.

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