Corporate governance and dynamics capital structure: evidence from Vietnam

被引：36

作者：

Nguyen, Thao ^{[1
]}

Bai, Min ^{[1
]}

Hou, Yang ^{[1
]}

Vu, Manh-Chien ^{[2
]}

机构：

[1] Univ Waikato, Sch Accounting Finance & Econ, Waikato Management Div, Hamilton, New Zealand

[2] Univ Quebec Trois Rivieres, Trois Rivieres, PQ, Canada

来源：

GLOBAL FINANCE JOURNAL | 2021年 / 48卷

关键词：

Leverage; Target capital structure; Speed of adjustment; Adjustment costs; Ownership; AGENCY COSTS; OWNERSHIP CONCENTRATION; FIRM; PERFORMANCE; DIRECTORS; DETERMINANTS; FINANCE; BOARD; WOMEN; ADJUSTMENT;

D O I：

10.1016/j.gfj.2020.100554

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the relationship between corporate governance and speed of adjustment (SOA) of capital structure for listed firms in Vietnam from 2000 to 2016. We first examine the literature on the influence of crucial corporate governance mechanisms, including gender diversity and managerial ownership, on SOA. Empirically, we then find that board size, board independence, gender diversity, and managerial ownership significantly increase SOA, but CEO duality significantly decreases it. We discuss some policy implications for firms and Vietnamese authorities.

引用

页数：14

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