The purpose of this study is to investigate the determinants of capital structure in Swedish small and medium sized firms. The study includes 24.859 Swedish firms which are further analyzed with regards to their financial characteristics. These characteristics consist of short term Debt, long term Debt and total leverage. The study compares the relationship between these characteristics and six independent variables.The result shows that profitability is the greatest determinant for capital structure in Swedish small and medium sized firms with regards to total leverage. When profitability increases the total leverage of the firm decreases.

The purpose of this study was to examine how people experience being in Debt, what they consider was the reason for being in Debt and how they experienced economic counselling. The empirical data was based on five semi-structured interviews with people having experiences from being in Debt and experiences of economic counselling. The data was analysed by using theoretical perspectives from a model called economic-shame created by Bengt Starrin. The model shows how being in Debt and the feelings of shame influence health. The conclusion shows that the reasons for being in Debt often is due to several sudden and tragic events happening at the same time or due to each other.

The first Debt Relief Act was introduced in 1994 into Swedish law. The old Debt Relief Act was replaced on 1 January 2007 by the current Debt Relief Act. The current law is in many ways similar to the older law. The main change is the Debt settlement process.The Debt settlement Act's main purpose is to financially rehabilitate over-inDebted individuals. This aim should be balanced against the creditors' interest in getting paid for their claims.

This thesis describes how large Swedish companies finance their Debt and identifies some factors that affect their decisions. The study is based on 10 well-known companies of which 9 are listed on Nasdaq OMX Nordic. The results show that the companies display several similarities concerning their Debt structure and the factors which their choices are based upon. All companies in this study primarily use corporate bonds for their long-term borrowing, commercial papers for the short-term borrowing, and bank-facilities as back-up. There is a tendency that smaller companies in larger extent use bank-loans for long-term borrowing due to larger emissions costs when using market financing.

The purpose of this essay is to study the impact of different factors on corporate capital structure. The factors studied in relation to corporate Debt ratio are industry affiliation, size and profitability. The study involves all 252 companies quoted on the Stockholm stock exchange and cover a time period from 2007 to 2011. The result shows that branch affiliation has a significant impact on corporate Debt ratios. Regarding size and profitability, however, these factors do not have an evident impact on corporate Debt ratios..

Funding is essential for companies to function. All companies must relate to the funding issue, whether they are working with it in an active manner or not. Funding can be done in two ways, either through equity or Debt and the ratio between these are called capital structure. Already in 1958 Modigliani and Miller concluded that a company?s capital structure does not change the value of the company, thus the company?s Debt in relation to equity is irrelevant.

Problem formulation: This paper will examine how the capital structure of firms affects their market valuation by applying the Modigliani-Miller theory on Swedish listed companies in a boom and a recession. The study will examine whether it is possible to draw any conclusions as to whether companies with high Debt to equity ratios are valued lower in a recession, in comparison to companies with low Debt to equity ratios.Purpose: To empirically test the Modigliani-Miller theory of capital structure in a boom and a recession in order to see if the companies? market value is affected differently depending on whether they have a high or a low Debt to equity ratios.Methodology: The essay has a deductive and a quantitative methodological approach. Data analysis was done through a correlation analysis, a regression analysis and a hypothesis testing.Theory: The Modigliani-Miller theory of capital structure with taxes states that companies with a high Debt to equity ratios has a higher value. One of the risks with a high level of Debt could be that during a financial downturn companies have more difficulty realizing capital and are thus more likely to go bankrupt.Conclusions: The study shows results that are contrary to the Modigliani-Miller's theory; all the correlation analyses between Debt to equity ratios and market value are negative.

The purpose of this thesis is to ascertain the main determinable factors of Swedish SMEs capital structure decisions and to investigate whether existing capital structure theories are applicable on Swedish SME financing. We have used panel data to run regressions of various capital structure determinants on three measures of capital structure; short- term Debt, long-term Debt and total Debt. We found that growth opportunities, profitability and age are the most important capitalstructures determinants for our sample. Firm size shows a small explanatory result but the effective tax rate and the asset tangibility do not seem to explain the capital structure at all. Thematurity matching principle is considered significant..

Abstract The internationalisation of a company is enabled by integration of markets. New markets mean new revenues, but also demand capital to finance the expansion. To bring in new capital may offer new possibilities but also higher Debt-equity ratios, which affect how external interested parties value the company. This thesis, inspired by previous and mainly US based research, researches the Debt-equity ratio of Swedish multinational and domestic companies, sampled from the Stockholm Stock Exchange. The research questions have focused on the impact of certain internationalisation variables on the Debt-equity ratio; how does the Debt-equity ratio differ between international and domestic companies? Can a difference be explained by the degree of internationalisation? Can a difference be better explained by the presence of international ownership? By measuring the concept internationalisation as both trade and presence, the questions were operationalised into four hypotheses.

The consumption levels in Sweden, Denmark, Finland and Norway have been rising fo r the last decade. Even after the financial crisis of 2008, consumption levels continued their upward trend, regardless of the recession. The explanation seems to be, at least partly, that households tends to increase their Debt ratio in order to continue the same standard of living as before in terms of consumption. It is clear, based of our results, that there is a connection between increased consumption and Debt ratio for households. And the consequences of allowing loans to finance a sustained or increasing consumption may ultimately be difficult to manage.

The bachelor's thesis is to examine the explanatory factors affecting the choice of capital structure in real estate companies. The analysis is based on data collected from the main financial reporting from 2007; all listed real estate companies listed on Swedish, Norwegian, Danish and Finnish stock market. Based on previous research and theories, we have defined five independent variables that are linked to the Debt ratio, which are: profitability, growth, firm size, cost of Debt and operational risk. The statistical tests have resulted in that we can say with certainty that profitable firms tend to have a lower Debt to equity ratio. We can also say with certainty that property companies with high interest costs have a high level of inDebtedness..

This thesis gives an introduction to securitization in general and the tranching of collateralized Debt obligations in particular. It does this by using a firm-value model to simulate the underlying portfolio via monte-carlo simulations.The simulations in turn give a loss-distribution from which the various tranchings of the CDO?s are derived. To get an understanding of the influence of different variables involved in the tranching the simulations are repeated several times where the portfolio variables are changed to generate different tranchings. This to give a understanding of the influence different variables have on the tranching and consequently risks involved in CDO?s in particular but also general risks and problems of securitizations..

In this paper the effect of capital structure on profitability has been investigated among Swedish companies. The essay intends to examine how the relationship between Debt and profitability appear among Swedish companies and if the relationship differs between industries. The purpose is to find out how Debt affects the profitability of Swedish companies.A quantitative approach has been applied. The selection was made among companies listed on Nasdaq OMX Stockholm, which resulted in a sample of 207 companies. Several regression analyzes has been formed, based on the independent variable Debt-ratio and the dependent variables profit margin, pre-tax profit margin, operating margin, return on assets and return on equity.

This master thesis concerns whether Swedish non-financial listed firms act in accordance with the optimal capital structure theory and/or pecking order theory. The examined period is 1998-2004 and we discover that Swedish companies neither follow optimal capital structure theory nor pecking order theory. From our results we conclude that there exists no single point of the capital structure which is optimal. Rather it seems as if the optimal point lies in-between an interval from 0 to the industry average, where firms tend to be indifferent to their Debt-ratios. Our results show that Swedish companies prefer internal financing followed by equity and as last choice Debt issuance..

How capital structure influences corporate performance and value has been in the interest of researchers and scholars for more than half a century, but an answer is yet to be found. The main objective of the present paper is to contribute with data for this cause and hopefully help to clarify this mystery. The method that was used was by analyzing the impact of Debt on profitability and market valuation through linear regression. The study examined 17 Swedish property companies listed on Nasdaq OMX Large Mid and Small Cap over a 6 year period (2007-2012). The authors found a slightly negative relationship between Debt-to-equity and profitability measured by return on equity (ROE) as well as by return on assets (ROA).