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Eventuell kapitalstruktursförändring i samband med Covid-19 pandemin hos OMXS företag inom Large Cap: En kvantitativ studie som jämför kapitalstrukturen före och under pandemin hos OMXS företag inom Large Cap
Södertörn University, School of Social Sciences, Business Studies.
Södertörn University, School of Social Sciences, Business Studies.
2024 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [sv]

Syftet med denna studie är att analysera eventuella kapitalstruktursförändringar i samband med Covid-19 pandemin hos svenska företag noterade på Stockholmsbörsen, OMXS, inom Large Cap. Urvalet utgörs av företag inom alla sektorer i Large Cap, exklusive finanssektorn. Sambandet mellan bolagens beroende och oberoende variabler analyseras före och under pandemins tidsperiod, 2015–2022. De beroende variablerna utgörs som Proxy för kapitalstruktur och omfattas av totala-, kortfristiga-, och långfristiga skulder i förhållande till totala tillgångar. Medan de oberoende variablerna utgörs av företagsstorlek, lönsamhet samt tillväxt. För att uppnå detta baseras uppsatsens teoretiska ramverk på Modigliani och Miller proposition 1 & 2, Pecking Order teorin och Trade Off teorin tillsammans med tidigare empiriska studier samt undersökningar. Uppsatsens analyser omfattas av en deskriptiv analys av samtliga variabler, en korrelationsanalys av de oberoende variablerna och slutligen flera multivariata regressionsanalyser mellan samtliga variabler. För att erhålla de mest valida och reliabla slutsatserna kommer uppsatsen tillämpa en kvantitativ forskningsmetod och en deduktiv ansats. Uppsatsens resultat fann flest statistiskt signifikanta samband mellan samtliga skuldkvoter och företagsstorlek. Uppsatsens slutsats konstaterade att kapitalstrukturen hos OMXS företag inom Large Cap hade förändrats under pandemin i jämförelse med före pandemin. Sammantaget bidrar denna uppsats till en djupare förståelse för sambandet mellan samtliga analyserade variabler baserat på en historisk bakgrund. Därmed kan svenska bolag inom alla sektorer, exklusive finanssektorn, skapa en bättre uppfattning kring sina kapitalstrukturer inför framtida finanskriser. 

Abstract [en]

The purpose of this study is to analyze potential capital structure changes in connection with the Covid-19 pandemic among Swedish publicly traded companies on the Stockholm Stock Exchange, OMXS, within Large Cap. The sample consists of companies across all sectors within Large Cap, excluding the finance sector. Focusing on the relationship between the dependent and independent variables before and during the period of the pandemic, 2015–2022. The dependent variables consist of total-, short- term-, and long- term debt as a proportion to the total assets. These dependent variables constitute as a Proxy for capital structure. The independent variables include size, profitability and growth. To accomplish this, the theoretical framework for this essay is based on Modigliani and Miller proposition 1 & 2, The Pecking Order Theory, The Trade Off Theory along with previous empirical studies. The analyzes contains of a descriptive analysis of all variables, a correlation analysis of the independent variables, and lastly several multivariate regressions analyses between all variables. In order to make it possible to acquire the most valid and reliable conclusions, the study will be based on a quantitative method, applying a deductive approach. The results found the most statistically significant relationships between all debt ratios and company size. The conclusion stated that the capital structure of OMXS companies, within Large Cap, had changed during the pandemic compared to before. In summary the results contribute to a deeper understanding of the relationship between all analyzed variables based on a historical background. Hence Swedish companies within these sectors can gain a better understanding of their capital structure for future financial crises. 

Place, publisher, year, edition, pages
2024. , p. 71
Keywords [en]
Capital structure, Covid-19 pandemic, Modigliani and Miller proposition 1 & 2, The Pecking Order Theory, Trade Off Theory, correlation analysis, multivariate regressions analyses.
Keywords [sv]
Kapitalstruktur, Covid-19 pandemin, Modigliani och Miller proposition 1 & 2, Pecking Order teorin, Trade Off teorin, korrelationsanalys, multivariata regressionsanalyser.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:sh:diva-54328OAI: oai:DiVA.org:sh-54328DiVA, id: diva2:1875822
Subject / course
Business Studies
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Available from: 2024-06-26 Created: 2024-06-24 Last updated: 2025-10-07Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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  • Other style
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