Kapitalstruktur i svenska aktiebolag: En studie om påvisade faktorers egentliga påverkan på kapitalstruktur
Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
In order for companies to be competetive on the market, there’s a need of capital. If a company is in a need of capital to make major investments and isn’t able to prioritize internal funding, the priority will be external financing with safe securities; loans. How companies should prioritize the allocation between equity and debt, which together form value, leads us to the subject of capital structure. The purpose of the study is to examine what possible relationship; P/E-ratio, tangible assets, size, profitability and inflation have on leverage, for listed companies on the Stockholm Stock Exchange between the years 2008-2012. The study use a quantitative method of a collection of annual report data. The conclution shows that P/E ratio, tangible assets and inflation have no relationship with leverage. Size showed the strongest positive relationship and profitability of the strongest negative relationship. The authors conclude that the trade-off theory, both contradict and support the results of the study and the authors find support for the Pecking order theory.
Place, publisher, year, edition, pages
2014. , 33 p.
Capital structure, Leverage, Trade-off theory, Pecking order, Stockholm Stock Exchange
IdentifiersURN: urn:nbn:se:sh:diva-24481OAI: oai:DiVA.org:sh-24481DiVA: diva2:742497
Subject / course
UppsokSocial and Behavioural Science, Law
Chun, Ogi, Högskoleadjunkt