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Kapitalstruktur och Affärsrisk
Linköping University, Department of Management and Economics.
Linköping University, Department of Management and Economics.
2001 (Swedish)Independent thesis Advanced level (degree of Magister)Student thesisAlternative title
Capital Structure and Business Risk (English)
Abstract [en]

During the past year it has been made possible to buy back a company’s outstanding stock. This is done in order to change the capital structure towards a situation with less equity. A change in capital structure means a change in the cost of capital for a company and by that a change in the value for the stockholder. This Master Thesis studies the relation between capital structure and business risk. Studying the debt to equity ratio in a company captures capital structure. Studying the volatility in return on assets over a certain time period captures business risk. The Master Thesis also includes a study of what factors have an impact on the business risk when looking at the day-to-day business. By conducting a study of the pulp and paper industry and its nine listed companies a picture is created of what factors have an impact on the relation between capital structure and business risk. The business risk is in a very high degree dependant on factors like economic development for the product, raw material prices, number of product groups and what segments the company penetrates. A positive relation between capital structure and business risk has been identified. The study also indicates that other factors than just the business risk should be hold responsible for a company’s capital structure.

Place, publisher, year, edition, pages
Ekonomiska institutionen , 2001. , 59 p.
Series
Master Thesis in Business Administration (Magisteruppsats från Internationella ekonomprogrammet), 2001:24
Keyword [en]
Business and economics, Capital Structure, Business Risk, Debt to Equity, Buy-back, Ekdal
Keyword [sv]
Ekonomi
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:liu:diva-811OAI: oai:DiVA.org:liu-811DiVA: diva2:22981
Uppsok
samhälle/juridik
Available from: 2001-03-05 Created: 2001-03-05

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • oxford
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf