TAILIEUCHUNG - The linkage between excess board independence and capital structure: An exploration in the context of listed companies in Saudi Arabia

The purpose of this study is to investigate the link between one of the corporate governance mechanisms employed to effectively monitor managers and align their goals with those of shareholders, number of independent directors on the board and capital structure for 68 firms listed on Saudi Arabian stock exchange for the period 2010-2014. We employ two measures that account for the representation of independent directors, board independence and excess independence and test this relationship in the presence of a number of control variables such as board size, assets’ tangibility and firm size, profitability and growth opportunities. We find that board independence and debt share a positive relationship which is not statistically significant, while the link between excess independence and debt is positive and is statistically significant. The results are robust when the book debt is alternated with market debt. Our findings have important implications for the corporate governance structures of firms. This has important implications for the regulators and firms. | The linkage between excess board independence and capital structure: An exploration in the context of listed companies in Saudi Arabia

• Tài chính doanh nghiệp
• Board structure
• Board independence
• Capital structure
• Agency theory
• Corporate governance
• Financial leverage Vietnamese listed firms
• PhD thesis summary
• Ownership structure
• Board characteristics
• Firm performance in Vietnam
• Roles of ownership structure
• PhD Thesis Summary Business Administration
• Thesis Business Administration
• Board size
• Oil based economy
• Oil exporting economy
• International Journal of Computer Networks and Communications Security
• Photonic band gap structure
• The performance of band stop filters
• Band stop filters
• Photonic band gap
• Band stop filter
• Printed circuit board
• Defected ground structure
• Computer simulation technology software
• Impact of corporate governance
• Corporate governance and capital structure
• Stock market in Vietnam
• Firm value of firms in Vietnam
• Chairman of the Board of Directors
• Board of Director
• Executive compensation
• Joint stock company
• Typology of shareholders
• Viet Nam listed company
• Corporate ethics
• Lecture Corporate governance and ethics
• Corporate governance rating
• External governance
• Integrated aspect
• Corporate governance manual
• General governance structure of a company
• Introduction to shareholder rights
• Material corporate transactions
• Corporate sustainability reporting
• Corporate social responsibility
• Global reporting initiative
• International Conference on Emerging Challenges
• Corporate governance quality
• Corporate governance index
• State owned enterprises
• Chief audit executive
• Chief risk officer
• Corporate development officer
• Corporate governance disclosure index
• Commercial banks
• Commercial banking sector
• Corporate governance practices
• Market system
• Free enterprise system
• Capital markets
• Business ethics
• Code of ethics
• Conference board
• Business judgment rule
• CEO duality
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• Audit committee
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• Đạo đức kinh doanh
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• Regulatory bodies
• Internal audit
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• Stakeholders’ roles
• Association of investment
• Chief information officer
• Finance committee
• Information infrastructure