Do Corporate Governance Practices Affect Capital Structure Decisions? - The Moderating Effect Of Gender Diversity
Abstract
This research examines the nexus between some proxies of corporate governance and debt level of 248 companies on HOSE from 2014 to 2020. In addition, the research investigates the moderating effect of gender diversity on the nexus between these corporate governance variables and leverage. By using the pooled OLS with robust, the result shows that only board size and state ownership have a statistically significant nexus with leverage. While board size has a statistically significant and positive association, state ownership has a negative one. The association between board size and leverage is moderated by the existence of females. To be specific, the relationship between board size and leverage turns from positive to negative if female exists on the board.