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Firm-specific determinants of Dutch capital structure: the impact of the 2008 financial crisis

Jansen, A.P. (2014) Firm-specific determinants of Dutch capital structure: the impact of the 2008 financial crisis.

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Abstract:This study has examined the impact of the 2008 financial crisis on the relationships between independent variables representing the pecking order, trade-off and agency cost theories, and, the dependent variable; capital structure. The aim was to identify a potential altering effect of the 2008 financial crisis on the firms-specific determinants of Dutch capital structure. The tested hypotheses have been developed in consideration of the demand side as well as the supply side of capital. The direction of the relationship is based on the demand side – i.e. the influence of firm-specific characteristics on leverage as hypothesized by capital structure theories – while the sensitivity of the relationship is based on the supply side – i.e. the tightening of the bank lending conditions during the 2008 financial crisis.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/66141
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