Dynamic capital structure in Indonesia: does the education and experience of CEOs matter?

• Main Authors: Chua, Meishan, Ab Razak, Nazrul Hisyam, Md Nassir, Annuar, Yahya, Mohamed Hisham
• Format: Article
• Published: Elsevier Taiwan LLC. 2022
• Online Access: http://psasir.upm.edu.my/id/eprint/101023/; https://www.sciencedirect.com/science/article/pii/S1029313221000464#:~:text=Our%20results%20show%20that%20CEOs,SOA%20decisions%20(second%20stage).

Based on the Upper Echelon Theory, this paper examined the relationship of CEO education and experience with the dynamic capital structure (DCS) using the target leverage and speed of adjustment (SOA) models. This study applied the system generalised method of moments (SYS-GMM) to the target leverag...