The comparison of impact from capital structure to corporate performance between Chinese and European listed firms
Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Capital structure and companies’ performance are important to corporate finance. Therefore, firms take different strategies to adjust capital structure to get a better firm performance. However still the studies mostly conducted in one country setting or neglect the angle from listed companies across countries. This thesis encompasses 2 developed countries (Germany and Sweden) and a developing country (China) to test the impact from capital structure to firm performance of period 2003-2012 with more than 1200 listed companies in Germany and Sweden and more than 1000 listed companies in China. The result shows capital structure has a significant negative effect to firm performance in China, whereas, significant positive effect in 2 European countries before financial crisis happened in 2008. I also find institutional factors and economic crisis will affect this relationship too.
Place, publisher, year, edition, pages
2013. , 46 p.
capital structure, firm performance, effect, comparison, listed companies
IdentifiersURN: urn:nbn:se:hj:diva-21994OAI: oai:DiVA.org:hj-21994DiVA: diva2:650247
2013-09-03, B3052, Jonkoping, 12:30 (English)
Österlund, Urban, Assistant Professor
Stephan, Andreas, Professor