Faktorer som påverkar kapitalstrukturen i nordiska fastighetsbolag
Capital structureReal estateDept ratioPecking orderTrade offKapitalstrukturFastighetsbranschenSkuldsättningsgradPecking orderTrade off
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.