How do macroeconomic factors affect capital structure? The case of Swedish firms
Using unbalanced panel data for the sample period 2002-2012, this study investigates the relation between macroeconomic factors and the capital structure of 233 Swedish companies. Using the Random Effects model, this paper identifies the macroeconomic determinants that affect the capital structure of Swedish firms. We find that the leverage measures are positively related to the GDP Growth rate, I
