Corporate Governance and the Cost of Debt

摘要：

This paper examines the relation between corporate governance and the cost of debt using firm-level data of listed companies from China. Our results show that the cost of debt is negatively linked to the percentage of the biggest shareholder, the independence and scale of the board and managerial ownership which suggest that the ownership structure and the independence and scale of the board can mitigate the agency problem of debt.

关键词： cost of debt corporate governance

作者: CAO Yanming

作者单位: School of Accounting, Shanxi University of Finance & Economics, P.R.China, 030012 School of Management, China University of Mining and Technology, P.R.China, 221116

会议类型: 国际会议

会议名称: 2009 International Conference on Growth of Firm and Management Innovation(2009企业成长与管理创新国际学术会议)

会议地点: 北京

会议语种:英文

页码: 173-178

在线出版日期: 2009-09-01（万方平台首次上网日期，不代表论文的发表时间）