文章基本信息

标题：Examining the relationship between board structure and financing constraints for the companies listed on Tehran Stock Exchange
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作者：Gholamhossein Mahdavi ; Gholamreza Rezaei
期刊名称：Financial Research
印刷版ISSN：1024-8153
电子版ISSN：2423-5377
出版年度：2016
卷号：17
期号：1
页码：179-198
出版社：University of Tehran Electronic Journals Database
摘要：The purpose of this research is to study the effects of board of director structure on financing constraints for the companies listed on Tehran Stock Exchange (TSE). For this purpose, indigenised Kaplan and Zingales (KZ) index has been used as a proxy for financing constraints. The population consists of 56 companies of TSE spanning 2007-2013 and the multivariate logistic regression is used. The results suggest that there is no significant relationship between board structure (including independence, size, degree, changes in the membership and CEO duality) and financing constraints. In addition, the research results concerning control variables show that there is a significant negative relationship between firm size and financing constraints, but thereis a significant positive relationship between firms’ age and their financing constraints.
关键词：board degree;board independence;board size;financing constraints;firm age