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The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets
Dissertation (MBA)--University of Pretoria, 2013.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2014
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| _version_ | 1867613644946145280 |
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| access_status_str | Open Access |
| author2 | Ward, Mike |
| author_browse | Ward, Mike |
| author_facet | Ward, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2014 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2013. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/40588 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:39:26.088Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2014 |
| publishDateRange | 2014 |
| publishDateSort | 2014 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/40588 The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets Ward, Mike ichelp@gibs.co.za Lingenfelder, John UCTD International business enterprises Organizational behavior Corporate governance Dissertation (MBA)--University of Pretoria, 2013. A firm’s capital structure decision is guided by factors both internal and external to the organisation. This paper tests the extent to which international macroeconomic factors, particularly a considerable market shift, affect firms’ capital structures by using the global financial crisis of 2008 as a reference point. The study investigates the degree to which firms’ capital structures are changed in a variety of countries and industries within emerging markets, hypothesising that firms’ capital structures have changed post-financial crisis. The research is conducted by means of a quasi-experimental event-based time-series study, with the financial crisis of 2008 considered the fulcrum. Data from five years before, and five years after the event provided the basis for statistical analysis. The study found that leverage in emerging market firms is counter-cyclical and that country specific and industry specific factors influenced the degree of effect that the financial crisis of 2008 had on capital structures of firms over the studied period. lmgibs2014 Gordon Institute of Business Science (GIBS) MBA Unrestricted 2014-07-07T10:16:23Z 2014-07-07T10:16:23Z 2014-04-30 2013 Mini Dissertation Lingenfelder, J 2013, The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets, MBA Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/40588> http://hdl.handle.net/2263/40588 en © 2014 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD International business enterprises Organizational behavior Corporate governance The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| title | The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| title_full | The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| title_fullStr | The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| title_full_unstemmed | The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| title_short | The effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| title_sort | effect of significant macroeconomic fluctuations on the capital structures of firms in emerging markets |
| topic | UCTD International business enterprises Organizational behavior Corporate governance |
| url | http://hdl.handle.net/2263/40588 |