Do ownership structure and quality of financial information affect the cost of debt of Tunisian listing firms?

Aida Sy, Lamia Jamel and Abdelkader Derbali (derbaliabdelkader@outlook.fr)
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Aida Sy: SUNY - State University of New York
Abdelkader Derbali: Institut Supérieur de Gestion Sousse

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Abstract: The main objective of this paper is to investigate empirically the relationship between the boards with other internal governance mechanisms such as ownership structure, quality of financial information and the cost of debt. To do so, we use a sample of 28 Tunisian listing firms during the period from 2007-2015. The empirical results show that the ownership structure and the quality of financial information have an important role in determining the characteristics of the cost of debt. The results also indicate that the cost of debt is related positively with factors from the boards of directors, to the size of the listing firms and negatively to the institutional participation on the capital of firm.

Keywords: Corporate governance; Board of Directors; ownership structure; cost of debt (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-ara and nep-cfn
Note: View the original document on HAL open archive server: https://hal.science/hal-01695999v1
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Published in International Journal of Critical Accounting , 2017, 9 (2), pp.140-153

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Related works:
Journal Article: Do ownership structure and quality of financial information affect the cost of debt of Tunisian listing firms? (2017)
Working Paper: Do ownership structure and quality of financial information affect the cost of debt of Tunisian listing firms? (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01695999

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