capital structure

Beiträge zu capital structure

Interaction Board of Directors - Capital Structure: Integrating skills and networks
12. Juni 2013 von Inès Chaabouni, Anis Jarbouri
This study investigates the relationship between board of directors and company’s capital structure in context of Tunisian firms. Our research paper covers information about 73 public limited companies for the fiscal year 2010. A multiple regression analysis has been used to examine the linkage between the level of debt and board of directors traditional features on the one hand and its competencies and skills on the other hand. Measures of board’s traditional characteristics employed are size of the board, its independence and duality of leadership. However, skills of the board were measured by competencies of directors, its relational network and presence of bankers in the board. Results reveal that the size of the board and its independence positively and significantly affect the level of debt. However, the variability of that is better explained by cognitive dimension of board than by its disciplinary perspective. In fact, there is a positive relationship between the level of debt and its skills and network. [weiterlesen]

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