Board Characteristics and Capital Structure in Malaysian Market
Using fifty nine construction companies listed in Bursa Malaysia in 2010, this study investigates the impact of selected board of directors' characteristics on the level of leverage in a firm. Debt to equity is used as a measure of leverage. The characteristics on the board of directors that we...
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my.uum.etd.30362022-04-10T06:32:15Z https://etd.uum.edu.my/3036/ Board Characteristics and Capital Structure in Malaysian Market Auais, Amin Abdel Rahman Yousef HD2709-2930.7 Corporations Using fifty nine construction companies listed in Bursa Malaysia in 2010, this study investigates the impact of selected board of directors' characteristics on the level of leverage in a firm. Debt to equity is used as a measure of leverage. The characteristics on the board of directors that we examine are board size, CEO duality, directors' ownership, and ethnicity of directors. We employ two variables (profitability, and firm size) to control the relationships: Findings show a significant interpretation of capital structure decision by these factors as a whole. Specifically, the outputs of the regression that we run show negative and significant relationships between director ownership, ethnicity of directors, and profitability of firm, and size of firm. While we find that duality role of the CEO as a chairman has a negative but insignificant relationship with leverage, our sample shows that the companies which had CEO duality are few compared to those which had separated roles between a CEO and a chairman. However, there is a positive and significant correlation between debt level in the companies and size of board of directors 2012-06 Thesis NonPeerReviewed text en https://etd.uum.edu.my/3036/1/Amin_Abdel_Rahman_Yousef.pdf text en https://etd.uum.edu.my/3036/2/Amin_Abdel_Rahman_Yousef.pdf Auais, Amin Abdel Rahman Yousef (2012) Board Characteristics and Capital Structure in Malaysian Market. Masters thesis, Universiti Utara Malaysia. |
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HD2709-2930.7 Corporations Auais, Amin Abdel Rahman Yousef Board Characteristics and Capital Structure in Malaysian Market |
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Using fifty nine construction companies listed in Bursa Malaysia in 2010, this study investigates the impact of selected board of directors' characteristics on the level of leverage in a firm. Debt to equity is used as a measure of leverage. The characteristics on the board of directors that we examine are board size, CEO duality, directors' ownership, and ethnicity of directors. We employ two variables (profitability, and firm size) to control the relationships: Findings show a significant interpretation of capital structure decision by these factors as a whole. Specifically, the outputs of the regression that we run show negative and significant relationships between director ownership, ethnicity of directors, and profitability of firm, and size of firm. While we find that duality role of the CEO as a chairman has a negative but insignificant relationship with leverage, our sample shows that the companies which had CEO duality are few compared to those which had separated roles between a CEO and a chairman. However, there is a positive and significant correlation between debt level in the companies and size of board of directors |
format |
Thesis |
author |
Auais, Amin Abdel Rahman Yousef |
author_facet |
Auais, Amin Abdel Rahman Yousef |
author_sort |
Auais, Amin Abdel Rahman Yousef |
title |
Board Characteristics and Capital Structure in Malaysian Market |
title_short |
Board Characteristics and Capital Structure in Malaysian Market |
title_full |
Board Characteristics and Capital Structure in Malaysian Market |
title_fullStr |
Board Characteristics and Capital Structure in Malaysian Market |
title_full_unstemmed |
Board Characteristics and Capital Structure in Malaysian Market |
title_sort |
board characteristics and capital structure in malaysian market |
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2012 |
url |
https://etd.uum.edu.my/3036/1/Amin_Abdel_Rahman_Yousef.pdf https://etd.uum.edu.my/3036/2/Amin_Abdel_Rahman_Yousef.pdf https://etd.uum.edu.my/3036/ |
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1731228127479201792 |
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13.160551 |