Covid-19-pandemin ochkapitalstruktur : Finns det en koppling mellan ett fall i aktiekurs och förändring i kapitalstruktur för svenska börsbolag?

Sammanfattning: The Covid-19 pandemic arrived suddenly and brought with it substantial changes to people'sdaily lives, which also manifested itself in the stock market. This study aimed to explore apossible connection between the sharp drop in market cap for listed Swedish companiesduring the COVID-19 pandemic and how that drop was manifested in their capital structures.The results were obtained by utilizing OLS-models constructed with common andacknowledged determinants of capital structure and running these models both for the entiredataset and for nine different sectors. A dummy variable indicating the quantile, of three,with the largest drop in stock price was constructed to test the hypothesis that a substantialdecline in market cap contributed to a lower leverage ratio. The results were ambiguous asmodels for the total sample indicated a negative relationship whereas most of the sectorspecific models indicated positive relationships. The models showed no significant resultsand whether a large drop in stock price led to changes in capital structure could not bedetermined.