Capital structure changes over business life cycle

The main aim of the thesis is to describe the decision-making mechanism of companies regarding the capital structure over the business life cycle. The study analyses the use of main capital structure theories in practice. Moreover it links the financial theory with the concept of business life cycle. Secondly, the thesis includes detailed comparative analysis of various sources of business financing and their costs, quantification of the costs of capital and analysis of any calculation inaccuracy of this parameter in practice. Finally, the thesis defines the fundamental decision-making formulas about the capital structure in individual phases of life cycle while using the relevant data. The thesis is, on the grounds of research, focused on the trade-off theory and relating calculation of optimal capital structure