Project objectives:

1.      Capital structure determinants derivation for Russian large companies in comparison with other companies of emerging markets (BRIC and Eastern Europe).

2.      Trade-Off and Pecking Order hypotheses testing on emerging capital markets data, especially on the data of Russian medium size companies

3.      Agency concept testing on the data of BRIC companies

4.      Dynamic analysis of capital structure of Russian large companies

5.      The influence of global financial crisis on the changes in capital structure of Russian large companies

Project schedule and responsibilities:

October 2009

•  Results summarizing of the project steps conducted in May-September 2009

•  Project development steps identification for the October 2009 – July 2010 period