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Capital Structure Adjustment Speed - the Effects of Firm Internationalization and Recessions on Swedish Firms

Nilsson, Gustav and Bandzaite, Dovile (2011) FEKP90 20111
Department of Business Administration
Abstract
The thesis studied non-financial Swedish firms classified as large- and mid-caps listed on Stockholm Stock Exchange active in 2009 throughout the time period 1990 to 2009. The firms were divided into multinational and domestic firms using a foreign sales ratio. Recession periods were defined as periods with negative GDP growth. We found that the speed at which a typical Swedish non-financial firm offsets a deviation from optimal leverage throughout the period 1990 – 2009 was 3, 55 years (28, 17 %). The adjustment speed was not affected by recession periods or multinationality of firms.
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author
Nilsson, Gustav and Bandzaite, Dovile
supervisor
organization
course
FEKP90 20111
year
type
H1 - Master's Degree (One Year)
subject
keywords
partial adjustment, capital structure, adjustment speed, multinationality, recessions., Management of enterprises, Företagsledning, management
language
Swedish
id
2007569
date added to LUP
2011-05-23
date last changed
2012-11-13 12:02:34
@misc{2007569,
  abstract     = {The thesis studied non-financial Swedish firms classified as large- and mid-caps listed on Stockholm Stock Exchange active in 2009 throughout the time period 1990 to 2009. The firms were divided into multinational and domestic firms using a foreign sales ratio. Recession periods were defined as periods with negative GDP growth. We found that the speed at which a typical Swedish non-financial firm offsets a deviation from optimal leverage throughout the period 1990 – 2009 was 3, 55 years (28, 17 %). The adjustment speed was not affected by recession periods or multinationality of firms.},
  author       = {Nilsson, Gustav and Bandzaite, Dovile},
  keyword      = {partial adjustment,capital structure,adjustment speed,multinationality,recessions.,Management of enterprises,Företagsledning,management},
  language     = {swe},
  note         = {Student Paper},
  title        = {Capital Structure Adjustment Speed - the Effects of Firm Internationalization and Recessions on Swedish Firms},
  year         = {2011},
}