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Optimal kapitalstruktur för företag med stora investeringar
This study deals with the road freight sector's capital structure and how leases, loans and equity affect the ratios. The study is based on a ten-year period between 2000-2010 in Sweden. Investments in finance is a complex and interesting subject to study, there are many factors that can affect how the company best choose their investments when they have many great business investment the decisions plays a greater role. The aim is to find an optimal capital structure from a financial investment point of view. The purpose will be answered by the following research question: Are there significant differences between leases, loans and equity financed fleet of factors, profitability, tax, turnover, age, and cyclicality. The study will also examine how debt is related to profit margin, DuPont and the tax, all through a regression analysis. Then were plausible economic theories for the study. These theories are the financial growth cycle, the pecking order theory, Trade off theory, and DuPont. In order to answer the purpose and problem definition, data was collected from the database retriever business where we got a sample of 121 companies. The study is based on bigger haulers that have a turnover of more than 10 million SEK and mainly engaged in road transport. The study has concluded that equity is the alternative that is best in general. To minimize the risks of the company is leasing better but generates less profit. Debt financing is better if you want a fast growth.