M.Sc. Johannes Weigl

Market-Timing of Capital Structure and Factors Influencing the Leverage Decision of Firms

Dokumente und Dateien

Hinweis

Bitte nutzen Sie beim Zitieren immer folgende Url:

http://nbn-resolving.de/urn:nbn:de:bsz:ch1-qucosa-81088

Kurzfassung in Englisch

The purpose of this dissertation is to contribute to the closure of these aforementioned research gaps. Answering these calls, the following research objectives are proposed:
1. Understanding the main factors that have an influence on the capital structure decision of firms.
2. Understanding how the capital structure of firms differs among various industries and to fathom cross-sectional differences in the importance of debt determinants among industries.
3. Investigating the influence of time on the capital structure decision of firms. In specific, it must be found out whether certain debt determinants alter their effect on the capital structure decision of firms over time.
4. Studying the market-timing effect of debt financing. It must be researched how managers time the debt market when engaging in bond or loan issues.
5. Empirically proving how stylized factors and market-timing behaviour influences the transaction of equity, bond and loan issues as well as of share repurchases.
6. Finally, discussing how far the stylized facts can be explained by existing capital structure theory in order to crown the theory, whose notion can best account the observed financing patterns across the world.

weitere Metadaten

Schlagwörter
(Deutsch)
Kapitalstruktur, Market-Timing, Fremdkapital, Eigenkapital, Irrelevanz Theorie, Pecking-Order Theorie, Prinzipal-Agenten Konflikt
Schlagwörter
(Englisch)
Capital Structure, Market-Timing, Pecking-Order, Irrelevance, Trade-Off, Principal-Agency Theory
SWD SchlagworteKapitalstruktur, Fremdkapital, Eigenkapital
DDC Klassifikation330
Institution(en) 
HochschuleTU Chemnitz
FakultätFakultät für Wirtschaftswissenschaften
ProfessurProfessur für Finanzwirtschaft und Bankbetriebslehre
BetreuerProf. Friedrich Thießen
GutachterProf. Michael Schefczyk
Prof. Friedrich Thießen
DokumententypDissertation
SpracheEnglisch
Tag d. Einreichung (bei der Fakultät)15.04.2011
Tag d. Verteidigung / Kolloquiums / Prüfung20.10.2011
Veröffentlichungsdatum (online)01.02.2012
persistente URNurn:nbn:de:bsz:ch1-qucosa-81088

Hinweis zum Urheberrecht

Diese Website ist eine Installation von Qucosa - Quality Content of Saxony!
Sächsische Landesbibliothek Staats- und Universitätsbibliothek Dresden