What are the common characteristics for a typical good internationalization process, from a capital structure and strategic point of view?

Details

Supervisors

Grégoire, Philippe ; Lejeune, Christophe

Faculty

Louvain School of Management

Degree label

Master [120] en ingénieur de gestion

Abstract

This thesis examines the impact of capital structure on firm’s internationalization process. The main objective of the case study is to determine the optimal internationalization process for a growing company from a financial perspective, without forgetting the entry’s strategy. The case study uses four financial indicators including, the ownership of the company, the net debt to equity ratio, annual EBITDA and stock price at the end of each year. These indicators will help us to understand their impact on the company efficiency and his globalization process. The results show that there is a link between the capital structure and the internationalization process’s success. There is also a link between capital structure and ownership. Finally, the results show that knowledge of the targeted new market is the key to succeed in the internationalization process.