Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)

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The Effect of Board Characteristics on Capital Structure—Evidence from UK, France, Germany, and China

Authors
Fujun Li1, *, Yichi Gong2, Yushan Tang3
1School of social science, University of Manchester, Manchester, M13 9PL, United Kingdom
2School of management, economics and mathematics, University of Western Ontario, London, N6A 3K7, Canada
3School of business administration, Northeastern University, Shenyanng, 110167, China
*Corresponding author. Email: fujun_li1212@163.com
Corresponding Author
Fujun Li
Available Online 29 December 2022.
DOI
10.2991/978-94-6463-102-9_113How to use a DOI?
Keywords
board characteristics; capital structure; corporate governance
Abstract

This study uses a new data set to assess the effect of board characteristics on capital structure. The panel data is used to analyze the board characteristics and capital structure choices of firms in the listed companies from UK, Germany, France, and China during 2009-2021. And this paper empirically provide evidence that there are some significant relationships between the board characteristics and capital structure by estimating the fixed effects model. Although the overall evidence supports the influence of corporate board's composition on corporate financing decisions in both shareholder-oriented and stakeholder-oriented environments, these findings suggest that the impact of board characteristics on capital structure choices varies according to the different institutional features.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)
Series
Atlantis Highlights in Computer Sciences
Publication Date
29 December 2022
ISBN
10.2991/978-94-6463-102-9_113
ISSN
2589-4900
DOI
10.2991/978-94-6463-102-9_113How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Fujun Li
AU  - Yichi Gong
AU  - Yushan Tang
PY  - 2022
DA  - 2022/12/29
TI  - The Effect of Board Characteristics on Capital Structure—Evidence from UK, France, Germany, and China
BT  - Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)
PB  - Atlantis Press
SP  - 1081
EP  - 1098
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-102-9_113
DO  - 10.2991/978-94-6463-102-9_113
ID  - Li2022
ER  -