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Quality Of Corporate Governance And Financial Structure Choice In Developing Countries

Author

Listed:
  • Prof. Bogdan Dima Ph.D

    (West University of Timisoara Faculty of Economics and Business Administration Timisoara, Romania)

  • Student Alin Ionescu Ph.D Student

    (West University of Timisoara Faculty of Economics and Business Administration Timisoara, Romania)

  • Student Petru Tudoreanu Ph.D Student

    (West University of Timisoara Faculty of Economics and Business Administration Timisoara, Romania)

Abstract

A widely debated topic during the last years is represented by the choice of financial structure of companies, especially in developing countries, characterized by economies without a tough and a mature financial system. As well, the researchers’ attention is focused mostly on linkage between capital structure and firm performance, only few of them considering the influence of companies’ institutional architecture and the main features of their governance in selecting of their financial structure. Using especially data provided from World Bank Enterprise Surveys website, we studied the linkage between corporate governance quality and its ability to influence the financial structure of the companies in a dataset covering a number of 26 developing countries from Central and Eastern Europe, Africa, Asia and Latin America. The main output of the study consists in the fact that the financial structure of the companies in developing countries is considerable influenced by the corporate governance quality.

Suggested Citation

  • Prof. Bogdan Dima Ph.D & Student Alin Ionescu Ph.D Student & Student Petru Tudoreanu Ph.D Student, 2013. "Quality Of Corporate Governance And Financial Structure Choice In Developing Countries," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(21), pages 168-181, NOVEMBER.
    • Handle: RePEc:aio:rteyej:v:1:y:2013:i:21:p:168-181
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    Cited by:

    1. Rodica Baciu & Brezeanu Petre, 2018. "Impact Of Financial Structure On Return On Equity: Evidence From Wholesale Of Motor Vehicle Parts And Accessories Industry," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 6(4), pages 38-47.
    2. Brogi, Marina & Lagasio, Valentina, 2022. "Better safe than sorry. Bank corporate governance, risk-taking, and performance," Finance Research Letters, Elsevier, vol. 44(C).

    More about this item

    Keywords

    financial structure; corporate governance quality; developing countries;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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