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Lease or Lend?: An analysis of how operating leases effect cost of debt
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The purpose of this study is to examine how the change in disclosure of operating leases due to the mandated IFRS 16 standard will influence entities cost of debt. Therefore, this paper investigate whether an increase in operating leases has an equal effect on the cost of debt as a corresponding increase in debt. The data consist of observations on 213 Swedish public companies during the time-period 2006-2017, resulting in a total sample of 1549 observations. This paper concludes that operating leases is a complement rather than a substitute to debt and that the increased harmonization effect caused by the alignment of interest bearing liabilities and operating leases, could be beneficial in terms of decreasing entities cost of debt.

Place, publisher, year, edition, pages
2019. , p. 32
Keywords [en]
IFRS 16, Operating lease, Financial lease, Debt, Capital structure
National Category
Business Administration
Identifiers
URN: urn:nbn:se:uu:diva-388965OAI: oai:DiVA.org:uu-388965DiVA, id: diva2:1336056
Educational program
Master Programme in Business and Management
Supervisors
Examiners
Available from: 2019-07-09 Created: 2019-07-09 Last updated: 2019-07-09Bibliographically approved

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Lease or Lend?(648 kB)50 downloads
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Type fulltextMimetype application/pdf

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf