Essays about: "capital structure adjustment"

Showing result 1 - 5 of 10 essays containing the words capital structure adjustment.

  1. 1. The Impact of COVID-19 on Corporate Capital Structure : An empirical evaluation on the pandemic in a Swedish context

    University essay from Linnéuniversitetet/Institutionen för ekonomistyrning och logistik (ELO)

    Author : Christopher Edberg; Oliver Kjellander; [2022]
    Keywords : COVID-19; Capital Structure; Leverage; Debt-to-Total Asset; Sweden; Trade-Off Theory; Pecking Order Theory;

    Abstract : This study has strived to explore how capital structure in Swedish corporations has been affected by the COVID-19 pandemic. The study has employed both a panel regression with fixed and random effects estimation as well as a dynamic panel regression with Arellano-Bond estimators. READ MORE

  3. 2. Firm Specific Determinants of Capital Structure - Is Firm's Leverage Determined as a Residual of other Financial Decisions?

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Niklas Schomaker; Daniel Riebler; [2018]
    Keywords : Stability of Capital Structure; Leverage Determinants; Financial Deficit; Credit Ratings; Error Correction Model; Business and Economics;

    Abstract : This thesis empirically investigates the question if US firm’s capital structures are stable over longer periods of time and which firm characteristics drive optimal leverage. The analysis is based on a Compustat panel data sample consisting of 2,900 US firms between 1985 and 2016. READ MORE

  4. 3. Sensitivity to Target Leverage Deviation and its Effect on Speed of Adjustment - A Study of Capital Structure Adjustments in a Nordic Context

    University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering; Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Björn Hedman; Hannes Lüning; [2016]
    Keywords : Target leverage deviation; speed of adjustment; cost of equity; sensitivity; bank-based economy;

    Abstract : In this paper, we study whether cost of equity is sensitive to deviations from target leverage and if this sensitivity is an explanatory factor for firms' speed of adjustment (SOA) towards an optimal capital structure. Further, we explore if access to bond markets could influence SOA. READ MORE

  5. 4. Equity Market Timing and the Capital Structure of Swedish Firms

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Johan Bolte; Anton Truvé; [2014]
    Keywords : Capital Structure; Equity Market Timing; Trade-off Theory; Leverage Ratio; Equity Issues;

    Abstract : We test the equity market timing hypothesis using yearly data from 1994-2013 for a sample of Swedish firms listed on Stockholm OMX. We do not find any support for market timing when using Kayhan and Titman's (2007) market timing measures. READ MORE

  6. 5. The Trade-off Theory and Firm Leverage - Can the Trade-off theory explain the leverage development among Swedish listed firms?

    University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Author : Hampus Persson; Joel Ridderström; [2014]
    Keywords : Trade-off theory; Dynamic framework; Firm characteristics; Leverage determinants; Industry standard;

    Abstract : This thesis aims to investigate if a dynamic application of the classic trade-off theory contributes in explaining the leverage development among companies listed on the Swedish Stock Exchange. After verifying inter-industry leverage differences, an industry comparing approach is applied to contrast the explanatory power of the trade-off theory between industries. READ MORE