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13907 Uppsatser om Pecking-order Theory and Capital requirements - Sida 3 av 928

Venture Capital & Banklån : Småföretagsfinansiering

There are many different forms of financing for small businesses and two common financing options mentioned in the study, bank loans and Venture Capital.Venture Capital is a form of risk capital financing, investing in unlisted stock market. The feature of the arrangement is that those people are trying to find companies that can offer unique, attractive and in demand products on a strong growing market. Since VC-firms are taking a big risk in cooperation with the investment, the VC-company strong demands while assessments are made on the company will generate a return in the future.Bank loans are the most common form of financing for companies in the market. Requirements and assessment under the law is hard especially for small businesses because financing entails high risks. Banks require that the liquidity management in the enterprise should be stable because the bank's main objective is to repayment of debt and the interest payable on the capital.The purpose of this study is to examine the requirements and assessments VC-firms and banks make use of the financing of small businesses. .

Påverkar goodwill kapitalkostnaden?

Does goodwill affect the cost of capital? Goodwill is an asset which is characterized by much uncertainty regarding both what it is and how much it is really worth. Based on economic theory about information risk and principal-agent problems as well as theory regarding the cost of capital we test for the hypothesis that debt and equity investors perceive goodwill as something risky and hence demand compensation for taking on this extra risk. The proxies used for the cost of capital are cost of debt, beta and the EP-ratio. On a general level we find that increasing the level of goodwill seems to result in higher cost of capital as represented by the three proxies.

Riskkapitalinvesteringar i svensk miljöteknik - obalans mellan utbudet och efterfrågan?

Earth?s resources have been exploited unsustainably. If an entire conception of exploitationof natural resources does not change now, this will entail enormous costs in the future.This insight has lead to a recently increased interest in clean technologies among privateequity capitalists. In the fourth quarter of 2006 about 10 percent of all private equityinvestments made in the US market were placed in the cleantech industry. Despite a goodinvesting climate in Sweden, Swedish capitalists have shown little interest in cleantechinvestments.

KRÄDD Konsten att balansera Ekonomiskt och Kulturellt Kapital

This thesis aims to describe how a fashion designer should balance art and commerce in order to succeed in the fashion industry. We aim to define the Swedish term KRÄDD, and sort out how a designer or CEO in the fashion business should relate to the term, as well as the balance between cultural and economic capital. We present theories of the origins and fluctuations of fashion, as well as social studies on cultural capital, and brand building. The study is made in a qualitative manner where the empirics consist of interviews with 13 respondents that have different positions in, and experience from the fashion industry, including designers, journalists, buyers, a CEO and a PR-professional. In our conclusion, we emphasize the need for a balance between cultural and economic capital in order to succeed as a fashion designer.

Finansiering av småföretags internationalisering

AbstractAccording to several researchers finance is scarce, scarcer for small businesses than for big enterprises. Small and medium-sized enterprises, SMEs, that want to start exporting and sales or manufacturing abroad need capital to get ready. Which capital structure and financial costs do they have, and which forms of finance do they actually use for that purpose. New american research by Mansi, Reeb (2002) has suggested, that there is a positive connection between leverage and a negative one between financial costs and internationalization, and that a non-linear model better describes this connection.This study has gathered data in two ways: Through a questionnaire from 37 SMEs and balance sheet figures from totally 166 manufacturing SMEs. In order to examine, whether the company was active on the international market, 200 SMEs in south Sweden were asked, if they exported to, produced or sold on any other market than their home market.

CleanTech - En utredning av historiska finansieringsmönster samt framtida kapitalbehov

Vi konstaterar att CleanTech-branschen historiskt sett är finansierad i enlighet med pecking order teorin. I vår studie uppmärksammar vi även tecken på en riskkapitalbrist inom CleanTech-branschen. Bristen beror till stor del på informationsasymmetri, men även den i allmänhet höga affärsrisken och den långa investeringshorisonten. Vi framhåller genom detta resonemang förekomsten av ett finansiellt gap inom CleanTech-branschen. Vår analys visar även att kapitalbehovet inom CleanTech-branschen är mycket stort och att Sverige har goda tillväxtmöjligheter inom CleanTech, men för att realisera dessa krävs en väl fungerande hemmamarknad..

Finansieringsbeslut och kapitalstruktur : En jämförande studie om finansieringsbeslut för nyinvesteringar och kapitalstruktur mellan fastighetsbranschen och tjänstebranschen

Syfte: Syftet med uppsatsen är att jämföra och analysera valet av finansieringsform och påverkande faktorer av kapitalstruktur inom respektive bransch. Vidare kommer detta att ställas och beprövas mot de teoretiska modellerna.Metod: Uppsatsen utgår från en kvantitativ ansats. Internetenkätundersökningar inom respektive bransch samt en räkenskapsanalys utifrån årsredovisningar.Teoretiskt perspektiv: Teorin ger en ingående kunskap om MM: s proposition I och II, samt teorierna trade-off och pecking order. Vidare behandlas en del relevanta begrepp.Empiri och analys: Sammanställning av information ur enkätundersökningar och årsredovisningar. Vidare har empirin analyserats och kopplats till teorierna.Slutsatser: Pecking order teorin stämmer bra in som tillämpning på finansieringsform för tjänstebranschen, dock inte på fastighetsbranschen.

Systemet framför allt? : En studie över dokumentationskraven i grundskolan

The education sector can be seen as a cornerstone of today's society, an organization that is under constant change and evolve as society. The compulsory school system is of significant role in society that places high demands on its management. The following study investigates the requirements for documentation in primary school organization and operations, and how these requirements are perceived and affect the school's organization and activities of the study carried out at different levels of the organization so as to get an overall picture of its impact. In order to analyze and create understanding of the results, the study applies the theory of New Public Management and various reforms that can be linked to the increased documentation requirements and its influence in the public administration. Study results show that there is a mixed picture of the documentation impact on the school system. Shown are both positive and negative effects of the documentation requirements.

"Rätt man på rätt plats" - men hur väljer man rätt?

The aim of this thesis is to investigate which the main determinants of capital structure in Swedish listed firms are and to identify which incentives lies behind managers choice of capital structure determinants. Further, the study investigates whether the Post Keynesian theory and theories which incorporate behavioral aspects can be used to explain the capital structure decisions or if the traditional Neoclassical theory give an better explanation. We have used a qualitative method to analyze the determinants of capital structure and the managers incentives behind capital structure decision. We conducted a survey which was sent to 83 Chief Financial Managers and financial executives in Swedish firms listed on Mid Cap or Large Cap. The questionnaire was on-line which enabled for the respondents to quickly and convenient respond.

För ett socialt kapital av god kvalité : - Det förebyggande arbetet mot mobbning ur skolkuratorers och lärares perspektiv

The purpose of this study was to understand school counselors´ and teachers´ perspectives on the prevention of bullying in relation to social capital. The study was based on a qualitative process with semi-structured interviews from three teachers and three school counselors from three different schools. The main question was to find out teachers and school counselors perspectives of bullying in relation to social capital. The analysis was based on a theory that focuses on social capital, where trust and confidence as well as universal and selective interventions are important. Today, bullying is considered a serious and significant problem in school.

CleanTech - En utredning av historiska finansieringsmönster samt framtida kapitalbehov

Vi konstaterar att CleanTech-branschen historiskt sett ärfinansierad i enlighet med pecking order teorin. I vår studieuppmärksammar vi även tecken på en riskkapitalbrist inomCleanTech-branschen. Bristen beror till stor del påinformationsasymmetri, men även den i allmänhet högaaffärsrisken och den långa investeringshorisonten. Vi framhållergenom detta resonemang förekomsten av ett finansiellt gapinom CleanTech-branschen. Vår analys visar även attkapitalbehovet inom CleanTech-branschen är mycket stort ochatt Sverige har goda tillväxtmöjligheter inom CleanTech, menför att realisera dessa krävs en väl fungerande hemmamarknad..

Socialt kapital i en etniskt homogen förening

This essay is a case-study of an ethnically homogeneous association, situated in an ethnically heterogeneous neighbourhood. The purpose is to examine the social capital of the members in this particular association. The theory of social capital claims that this form of association constitutes an example of bonding social capital, and is running the risk of becoming excluding towards non-group members. However, several scientists suggest that the ethnically homogeneous associations can assist immigrants in their new home countries to become a part of society, hence promote a more bridging form of social capital. This would be extra valuable in an ethnically heterogeneous context where the phenomenon of social capital often has a hard time.

Riskkapital & medicintekniska företag : En undersökning om finansieringen från riskkapitalister till svenska medicintekniska företag i introduktions- och expansionsfas

Background: Small businesses are key participants in the growth at the Swedish market, partly for the labour opportunities, the technology and economic development. These companies should get resources to grow, both political and economic resources. The medtech companies in an introduction and expansion phase meet with problems concerning the financing of their growth. Key participants whom offer financing are Venture Capitalists.Purpose: The purpose of this study is to examine Venture Capitalists demands on medtech companies in an introduction and expansion phase. A comparison between the demands and how well medtech companies achieve them will be done.

Inhysning av struts :

The Swedish ostrich production started about thirteen years ago and still there are no Swedish recommendations regarding ostriches? space requirements. The European Council give recommendations and the Swedish Board of Agriculture (SJV) has a proposal, but so far the producers follow Danish regulations regarding space requirements. The Swedish Animal Welfare Agency are about to set standards for the ostriches? space requirements, and therefore the Swedish ostrich producers, together with The Federation of Swedish Farmers (LRF) ask for a scientific background to these decisions. This thesis is a preliminary study at the prospect of a future experiment on which factors important for ostriches? space requirements and welfare will be examined more thouroughly.

Target Capital Structure and Adjustment Speed- a dynamic panel data analysis of Swedish firms

The purpose of this thesis is to test whether firms have target capital structure, and if so with what speed they adjust toward this target. Findings that support this purpose are also in line with the trade off theory. One of the key elements of this thesis is the method used, which successfully enables fulfilling the purpose. The panel data method captures the data characteristics of the cross sectional and time series dimension. By using this approach the dynamic effects of capital structure can be studied, thus if there actually is an adjustment towards a target the speed can be estimated.

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