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Kapitalstruktur - En studie över Market Timing och dess påverkan under finansiell lågkonjunktur

Persson, Amelie LU and Fransson, Robin LU (2013) FEKN90 20131
Department of Business Administration
Abstract
4
Abstract
Title Capital Structure – A study about Market Timing and its
affects during a financial depression
Seminar data 2013-05-29
Course FEKN90 Degree Project, Master of Science in Business
and Economics, 30 ECTS
Authors Amelie Persson and Robin Fransson
Advisor Maria Gårdängen
Keywords Capital Structure, Market Timing, Depression, Driving
Factors, Debt Level, Nordic Market
Purpose The purpose of this study is to empirically investigate
how the relationship between Market Timing and Capital
Structure changes during a depression compared to a
booming economy.
Methodology This study has a quantitative approach using panel data
regression to investigate the connection between the
Market Timing-hypothesis and the Capital... (More)
4
Abstract
Title Capital Structure – A study about Market Timing and its
affects during a financial depression
Seminar data 2013-05-29
Course FEKN90 Degree Project, Master of Science in Business
and Economics, 30 ECTS
Authors Amelie Persson and Robin Fransson
Advisor Maria Gårdängen
Keywords Capital Structure, Market Timing, Depression, Driving
Factors, Debt Level, Nordic Market
Purpose The purpose of this study is to empirically investigate
how the relationship between Market Timing and Capital
Structure changes during a depression compared to a
booming economy.
Methodology This study has a quantitative approach using panel data
regression to investigate the connection between the
Market Timing-hypothesis and the Capital Structure. This
is done by researching certain variables that may affect a
company’s Capital Structure.
Theoretical perspective The theoretical framework is based on previous theories
about Capital Structure, mainly covering the Trade-off
theory, the Pecking order theory and the Market Timing
theory as well as previous studies on this topic.
Empirical framework A sample containing 247 listed firms on the Danish,
Finnish and Swedish exchange markets during 2003-2011.
Conclusions The findings of this study shows that there is a
relationship between Capital Structure and Market Timing
covering the entire survey period. The explanatory
variables of this study had a larger impact on Capital
Structure before the depression, which indicates that other
variables affect during the depression. Furthermore the
results of this study cannot conclude that historical M/Bs
have a permanent affect on the companies Capital
Structure. (Less)
Please use this url to cite or link to this publication:
author
Persson, Amelie LU and Fransson, Robin LU
supervisor
organization
course
FEKN90 20131
year
type
H1 - Master's Degree (One Year)
subject
keywords
Kapitalstruktur, Market Timing, finansiell lågkonjunktur, drivande faktorer, skuldnivå, nordiska marknaden
language
Swedish
id
4091684
date added to LUP
2013-11-19 15:04:32
date last changed
2013-11-19 15:04:32
@misc{4091684,
  abstract     = {4
Abstract
Title Capital Structure – A study about Market Timing and its
affects during a financial depression
Seminar data 2013-05-29
Course FEKN90 Degree Project, Master of Science in Business
and Economics, 30 ECTS
Authors Amelie Persson and Robin Fransson
Advisor Maria Gårdängen
Keywords Capital Structure, Market Timing, Depression, Driving
Factors, Debt Level, Nordic Market
Purpose The purpose of this study is to empirically investigate
how the relationship between Market Timing and Capital
Structure changes during a depression compared to a
booming economy.
Methodology This study has a quantitative approach using panel data
regression to investigate the connection between the
Market Timing-hypothesis and the Capital Structure. This
is done by researching certain variables that may affect a
company’s Capital Structure.
Theoretical perspective The theoretical framework is based on previous theories
about Capital Structure, mainly covering the Trade-off
theory, the Pecking order theory and the Market Timing
theory as well as previous studies on this topic.
Empirical framework A sample containing 247 listed firms on the Danish,
Finnish and Swedish exchange markets during 2003-2011.
Conclusions The findings of this study shows that there is a
relationship between Capital Structure and Market Timing
covering the entire survey period. The explanatory
variables of this study had a larger impact on Capital
Structure before the depression, which indicates that other
variables affect during the depression. Furthermore the
results of this study cannot conclude that historical M/Bs
have a permanent affect on the companies Capital
Structure.},
  author       = {Persson, Amelie and Fransson, Robin},
  keyword      = {Kapitalstruktur,Market Timing,finansiell lågkonjunktur,drivande faktorer,skuldnivå,nordiska marknaden},
  language     = {swe},
  note         = {Student Paper},
  title        = {Kapitalstruktur - En studie över Market Timing och dess påverkan under finansiell lågkonjunktur},
  year         = {2013},
}