Capital Structure Adjustment Speed - the Effects of Firm Internationalization and Recessions on Swedish Firms
The thesis studied non-financial Swedish firms classified as large- and mid-caps listed on Stockholm Stock Exchange active in 2009 throughout the time period 1990 to 2009. The firms were divided into multinational and domestic firms using a foreign sales ratio. Recession periods were defined as periods with negative GDP growth. We found that the speed at which a typical Swedish non-financial firm