| Abstract [eng] |
The topic of this master's thesis is the assessment of the relationship between the sustainability status and capital structure of companies. The main objective of the study is to assess the relationship between the sustainability status and capital structure of medium and large Lithuanian manufacturing/transport companies in 2024. Three tasks have been set for the study: first, after examining the concepts of corporate capital structure and sustainability, to theoretically substantiate the relationship between corporate capital structure and sustainability; second, after analyzing previous studies on the relationship between corporate capital structure and sustainability, their methodology, and the results obtained, to put forward the main hypothesis of this study, to select variables and formulate a research model. The third task is to assess the relationship between the capital structure of medium and large Lithuanian manufacturing/transport companies and the sustainability of companies based on 2024 indicators. After analyzing theoretical concepts and previous empirical studies, a hypothesis was put forward that there is a link between the level of corporate debt and their sustainability status. Spearman's correlation, linear regression, and logarithmic regression research methods were chosen to accept or reject the hypothesis. The variables of the study are the sustainability index and its individual elements (sustainability importance, environmental indicator, social indicator, and management indicator), corporate liabilities, equity, assets, income, financial leverage, and debt ratio. The main conclusion of the study is that there is a relationship between sustainability and the level of corporate debt, but it is very weak. Based on regression, it was not possible to assess the dependence because there is strong multicollinearity and the models are inappropriate. The main limitations of the study are the lack of data, as companies in Lithuania only began to be assessed using the sustainability index in 2024. However, the results of this study provide valuable information for policymakers, company managers, and analysts—the pursuit of sustainability should be based not only on the optimization of financial indicators, but also on an integrated long-term strategy that encompasses technological, managerial, social, and environmental solutions. |
