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Styrande faktorer och aktiemarknadens påverkan på finansiering inom IT-branschen
Södertörn University, School of Social Sciences, Business Studies.
Södertörn University, School of Social Sciences, Business Studies.
2018 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The purpose of this study has been to examine the possible relationship between patterns on the stock market and the capital structure of IT-companies. Furthermore, the study attempts to contribute a deeper understanding of the ways Chief Financial Officers (CFO) and Chief Executive Officers (CEO) handle aspects pertaining to levels of debt, solidity, the market when making investment decisions and factors that influence a company´s value. This has been done using the Market Timing Hypothesis as the main theoretical frame of reference. The study has primarily been conducted using quantitative data analysis in the form of multiple regression. Qualitative interviews have been subsequently conducted with the purpose of enhancing the statistical findings. The results from the study indicate that financial decisions largely vary depending on the situation, albeit market value being an influencing factor. Moreover, the profitability of the company and the amount of fixed assets play a role in financial decisions. The respondents further noted that the amount of equity and debt of the company does affect its value.

Abstract [sv]

Studiens syfte var att undersöka sambandet mellan aktiemarknadens fluktuationer och företag i IT-branschens val av kapitalstruktur. Även att söka en djupare förståelse genom att ta del av Chief Financial Officers (CFO) och Chief Executive Officers (CEO) perspektiv på skuldsättningsgrad, soliditet, aktiemarknadens rörelser vid kapitalplacering samt vad som påverkar ett företags värde. Detta har skett med Market timing hypotesen som teoretisk utgångspunkt. Den huvudsakliga undersökningsmetoden har bestått av en kvantitativ dataanalys i form av multipel regressionsanalys. Kvalitativa intervjuer har därefter utförts i syfte att komplettera datan och för att förtydliga hur dessa aspekter hanteras i den praktiska verkligheten. Resultaten från studien indikerar att finansieringsbeslut är högst situationsbetingade men att marknadsvärdet har en viss påverkan. Utöver detta visade sig lönsamhet och andel anläggningstillgångar i förhållande till totala tillgångar väga tungt. De respondenter som intervjuades menade även att mängden eget kapital och skuld ett företaget besitter påverkar dess värde.

Place, publisher, year, edition, pages
2018. , p. 50
Keywords [en]
IT-companies, capital structure, Market Timing, market value, financial decisions, leverage, investments
Keywords [sv]
IT-branschen, kapitalstruktur, Market timing, marknadsvärdering, finansieringsbeslut, skuldsättningsgrad, kapitalplacering
National Category
Business Administration
Identifiers
URN: urn:nbn:se:sh:diva-35462OAI: oai:DiVA.org:sh-35462DiVA, id: diva2:1214159
Subject / course
Business Studies
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2018-06-07 Created: 2018-06-05 Last updated: 2018-06-07Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • harvard-anglia-ruskin-university
  • apa-old-doi-prefix.csl
  • 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