Surprises of corporate governance and Russian firms debt
Tamara V. Teplova and
Tatiana V. Sokolova
Journal of Economics and Business, 2019, vol. 102, issue C, 39-56
Our paper investigates the effects of corporate governance features on the cost of publicly traded debt in the Russian market after the global financial crisis. We consider a wide range of corporate governance mechanisms and focus our analysis on three elements relevant for emerging capital markets: state-owned bond issuers, auditor power (Big 4 or local firms) and CEO power. As control variables, we consider financial and non-financial indicators of bond issuers, including proxies of intellectual capital and transparency indicators, characteristics of bond issues, structure and size of the Board of Directors. We apply linear and multiplication regressions for unbalanced panel data.
Keywords: Audit power; CEO power; Corporate governance; State-Owned firms; Ruble corporate bonds; Cost of debt (search for similar items in EconPapers)
JEL-codes: G12 G3 C12 O34 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:jebusi:v:102:y:2019:i:c:p:39-56
Access Statistics for this article
Journal of Economics and Business is currently edited by Kenneth J. Kopecky
More articles in Journal of Economics and Business from Elsevier
Bibliographic data for series maintained by Haili He ().