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National Research University Higher School of EconomicsStudent ThesesOptimization of the Company's Capital Structure Based on the Concept of the Market Tracking "Retail" and "Metallurgy Industry" in the Russian Federation

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Stanislav Tsepa
Optimization of the Company's Capital Structure Based on the Concept of the Market Tracking "Retail" and "Metallurgy Industry" in the Russian Federation
Economics
(Bachelor’s programme)
2017
Entrepreneurship today is very widespread and plays a role in the development of the country's economy. Undoubtedly, the success of each country as a whole affects the competitiveness of countries, namely, GDP. It is worth noting that knowledge can be profitable in a market environment.

The purpose of this work is to identify factors that influence the optimal structure of capital in the metallurgical sector and on its basis, and track their formation. To achieve this goal, you must perform the following tasks:

1. Disclosure of the concept of the structure of capital and its value;

2. Review the neoclassical and dynamic theories of capital structure;

3. Define the tracking of the market as a dynamic theory of capital structures;

4. Compare business models of companies in the sectors of metallurgy and retail;

5. To construct regression models in the branches of metallurgy and retail;

6. Make an analysis of the identified factors that affect the formation of the optimal structure of capital in the industry, by setting hypotheses, confirming them or refuting them.

Overview of neoclassical and dynamic theories of capital structure. The traditional approach, the neoclassical theories of Miller-Modigliani, the compromise approach, the Ross model and the Myers-Miluf model are considered. With regard to market tracking, organizations can control the competitive environment in different ways and with different priorities. Thus, the model should be adapted to the specific conditions that the company chooses for monitoring.

The paper consists of three chapters in sixty-seven pages and includes sixteen drawings and thirteen tables. The list of literature is presented in thirty-four positions.

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