• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site
For visually-impairedUser profile (HSE staff only)SearchMenu

The Influence of Information Asymmetry on the Capital Structure of Russian Airlines

Student: Olga Vdovina

Supervisor: Elena Ryabova

Faculty: Faculty of Economics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2020

In this thesis the analysis of the influence of information asymmetry on the capital structure of Russian airlines was made. Information asymmetry is present in any market, however, it is often characterized by various peculiarities and impact force. That is why it is not possible to apply a single unifying algorithm for quantitative measurement of the level of information asymmetry. Therefore, the author, along with the use of existing assessment methods, attempted to develop his own indicator and apply it as a determinant of the capital structure. Using econometric modeling, it was determined that the higher the level of information asymmetry, the greater the financial leverage of the enterprise, and hence the level of debt financing. In addition, separate regressions were built particularly for large, medium, small and microenterprises, with the help of which it was revealed that the smaller the company is in size, the more strongly the asymmetric information influence its capital structure.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses