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Board Composition and Financial Distress of Listed Firms in Kenya. An Empirical Analysis

Kennedy Ombaba and David Kosgei

Journal of Finance and Investment Analysis, 2017, vol. 6, issue 4, 4

Abstract: The purpose of this paper was to examine the relationship between board composition and financial distress of listed firms in Kenya. The study specifically sought to determine the effect of board size, board independence, board tenure, multiple directorship and financial expertise on financial distress. The research design used in this study was exploratory design. The study employed panel regression analysis and simultaneously used pooled regression and random effects on sample size of 39 listed firms in Kenya during the period of 2004-2013. The study found that board independence is negatively and significantly related with financial distress ß=-0.044; p

Date: 2017
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