Corporate governance and dynamics capital structure: evidence from Vietnam

Thao Nguyen, Min Bai (), Yang Hou and Manh-Chien Vu

Global Finance Journal, 2021, vol. 48, issue C

Abstract: This paper examines the relationship between corporate governance and speed of adjustment (SOA) of capital structure for listed firms in Vietnam from 2000 to 2016. We first examine the literature on the influence of crucial corporate governance mechanisms, including gender diversity and managerial ownership, on SOA. Empirically, we then find that board size, board independence, gender diversity, and managerial ownership significantly increase SOA, but CEO duality significantly decreases it. We discuss some policy implications for firms and Vietnamese authorities.

Keywords: Leverage; Target capital structure; Speed of adjustment; Adjustment costs; Ownership (search for similar items in EconPapers)
JEL-codes: G32 O53 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:glofin:v:48:y:2021:i:c:s1044028319301577

DOI: 10.1016/j.gfj.2020.100554

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