University of Twente Student Theses
The impact of industry-specific determinants on the capital structure of Dutch SMEs.
Oldeniel, R.N. van (2020) The impact of industry-specific determinants on the capital structure of Dutch SMEs.
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| Abstract: | In this thesis, I examine the impact of industry-specific determinants on the capital structure of Dutch SMEs. The sample consists of 499 manufacturing firms that are divided into different industries based on the two-digit NACE codes. The study uses multilevel modelling to account for the variance between the nested data. The variables are included in a hierarchical matter. Started with an empty model, where no independent variables are included to see the variation between the different levels. Next, the firm-specific variables are included and at last, the industry-specific variables are separately included. Only 5% of the variation in debt is accounted by the industry-level. The results show that there is a weak link between the industry-specific determinants and the capital structure of Dutch SMEs. |
| 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: | https://purl.utwente.nl/essays/82510 |
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