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Does Corporate Governance Influence Leverage Structure in Bangladesh?

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Department of Business Administration, International Islamic University Chittagong, Kumira 4314, Bangladesh
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Department of Finance, University of Chittagong, Chittagong 4331, Bangladesh
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Faculty of Business and Finance, Universiti Tunku Abdul Rahman, Perak Campus, Kampar 31900, Malaysia
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Author to whom correspondence should be addressed.
Int. J. Financial Stud. 2019, 7(3), 50; https://doi.org/10.3390/ijfs7030050
Received: 10 May 2019 / Revised: 21 July 2019 / Accepted: 19 August 2019 / Published: 13 September 2019
This paper examines the regulation of corporate governance on leverage structure decision-making in Bangladesh from 2003 to 2017. Appropriate panel methods are employed to control the problems of serial correlation, heteroskedasticity, and the cross-sectional nature of manufacturing companies. The study finds that corporate governance attributes such as board size, managerial ownership, and duality are the dominant factors for leverage decision-making. The results also indicate that control variables such as firm size and profitability have an influential role on leverage decision-making in Bangladesh. Our findings substantiate the idea that political and family connections to corporate governance structure greatly influence the leverage decision-making of corporate firms in Bangladesh. View Full-Text
Keywords: board size; managerial ownership; duality; leverage structure; Bangladesh board size; managerial ownership; duality; leverage structure; Bangladesh
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Uddin, M.N.; Khan, M.S.U.; Hosen, M. Does Corporate Governance Influence Leverage Structure in Bangladesh? Int. J. Financial Stud. 2019, 7, 50.

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