Corporate Governance and Capital Structure: Moderating Effect of Gender Diversity

Amin, Ali; Rehman, Ramiz Ur; Ali, Rizwan; Said, Ridzwana Mohd

doi:10.1177/21582440221082110

Cited by 18 publications

(16 citation statements)

References 131 publications

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“…For instance, the GMM conducted in the countries of South Africa had negative results (Sewpersadh 2019), and South Korea had a positive outcome (Kamila & Gandakusuma 2021). This assertion was further reinforced by studies that adopted the Fixed effects model (Amin et al, 2022;Ehikioya et al, 2021). This outcome confirms this study's earlier assertion that intervening factors may have influenced the results, thereby confirming the puzzle surrounding the capital structure theories.…”

Section: Discussionmentioning

confidence: 96%

Effect of corporate governance on the capital structure on non-financial firms in developing countries: A Qualitative Approach

Damina¹,

Muritala²,

Umar³

2022

OJBM

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This study adopted a qualitative technique to examine the effect of corporate governance on the capital structure of non-financial firms in developing countries from 2011 to 2022. The study reviewed thematically evidence from 50 previous studies that examined the effect of board size on leverage. The study demonstrates an inconsistent outcome, with 52 per cent of findings positive, 32 negative and 17 mixed results. The study also found that adopting a single theory is insufficient to explain the rationale of the relationships between corporate governance and capital structure. While most studies adopted secondary data, future studies may focus on using primary data and other methods instead of regression or multiple regression analysis.

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Section: Discussionmentioning

confidence: 96%

Effect of corporate governance on the capital structure on non-financial firms in developing countries: A Qualitative Approach

Damina¹,

Muritala²,

Umar³

2022

OJBM

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“…According to Amin et al, companies with fewer directors can make decisions swiftly while minimizing agency costs and issues. [16] In addition, studies suggest that a larger board is effective in resource allocation, stringent oversight, and adopting a high debt strategy. This improves the company's value significantly since managers can increase debt and focus on enhancing the overall shareholders' value.…”

Section: Size Of Boardmentioning

confidence: 99%

The Effect of Board Characteristics on Capital Structure—Evidence from UK, France, Germany, and China

Li¹,

Gong²,

Tang³

2023

Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)

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This study uses a new data set to assess the effect of board characteristics on capital structure. The panel data is used to analyze the board characteristics and capital structure choices of firms in the listed companies from UK, Germany, France, and China during 2009-2021. And this paper empirically provide evidence that there are some significant relationships between the board characteristics and capital structure by estimating the fixed effects model. Although the overall evidence supports the influence of corporate board's composition on corporate financing decisions in both shareholder-oriented and stakeholder-oriented environments, these findings suggest that the impact of board characteristics on capital structure choices varies according to the different institutional features.

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“…As compared to male, the women are considered more independent, diligent and responsible (Amin et al , 2021) and their inclusion in the top management team reduces systematic biases and extend social networks (Shahab et al , 2020). Further, they produce higher quality decisions and improves self-efficacy in context of global leadership (Amin et al , 2022). The values, norms and beliefs of women CEOs, therefore, may influence the firm’s strategic behaviour such as risk taking differently from men.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

CEO personal characteristics and firms’ risk-taking behaviour: the moderating role of family ownership

Amin

Ali

Rehman

et al. 2023

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Purpose This study aims to examine the impact of chief executive officers’ (CEOs’) personal characteristics on firms’ risk taking and the moderating role of family ownership on this relationship. Design/methodology/approach This study used 2,647 firm-year observations of non-financial firms listed on Pakistan Stock Exchange over the period 2013–2021. To test the hypotheses, the authors used ordinary least squares regression and, to resolve the possible endogeneity problem, the authors used system generalized method of moments technique. Findings Drawing insights first from upper echelons theory, the authors report that CEOs with business, economics, finance and/or management educational background and female CEOs reduce firms’ risk-taking behaviour. Further, using insights from social and organizational identity theoretical perspectives, the results indicate that due to strong family affiliation and organizational identity, family owners exhibit risk aversion behaviour and moderate this relationship. Originality/value This study provides novel evidence of risk averse behaviour of CEOs with business, economics, finance and/or management educational background and female CEOs along with moderating impact of family ownership on this relationship in an emerging economy. Overall, the results extend empirical support for upper echelons and social identity theories in an emerging market context.

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Corporate Governance and Capital Structure: Moderating Effect of Gender Diversity

Cited by 18 publications

References 131 publications

Effect of corporate governance on the capital structure on non-financial firms in developing countries: A Qualitative Approach

Effect of corporate governance on the capital structure on non-financial firms in developing countries: A Qualitative Approach

The Effect of Board Characteristics on Capital Structure—Evidence from UK, France, Germany, and China

CEO personal characteristics and firms’ risk-taking behaviour: the moderating role of family ownership

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