C/F/74. Tesco and Vodafone capital structure analysis: Implementation of Trade-off and Pecking order theories

The paper is a good way to learn more about the most important capital structures theories and practice on corporative capital structure analysis. The paper contains analysis of capital structure of the companies for recent 5 years. We also compare the structure between ach other. The comparison include analysis of the companies behaviour on debt and equity market (we look how much Tesco and Vodafone issued shares and debt and how did they do that). We also pay special attention to the topic of capital structure theories - Trade-off, pecking order theories and Modigliani and Miller propositions (there is massive theoretical background about that). The result shows that companies have different structure reflecting its nature and also the theories work for the companies in various ways.