Digital Repository

Impact of CEO Characteristics on Capital Structure of Non-Finance Listed Companies in Sri Lanka.

Show simple item record

dc.contributor.author De Silva, L.G.R.V.
dc.contributor.author Weerakoon Banda, Y.K.
dc.date.accessioned 2021-12-13T06:33:05Z
dc.date.available 2021-12-13T06:33:05Z
dc.date.issued 2021
dc.identifier.citation De Silva, L.G.R.V., Weerakoon Banda, Y.K. (2021). Impact of CEO Characteristics on Capital Structure of Non-Finance Listed Companies in Sri Lanka. Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, p.20. en_US
dc.identifier.issn 2465-6399
dc.identifier.uri http://repository.kln.ac.lk/handle/123456789/24138
dc.description.abstract The capital structure determinants include observable and unobservable components. Under the unobservable component, CEO characteristics are vital since CEOs are the topmost level managers who have significant influential decision-making power towards the firm capital structure. Therefore, this study examines the impact of CEO characteristics on the capital structure of listed non-finance Companies in Sri Lanka. Due to the lack of prior empirical studies of this nature focusing on Sri Lanka; this research will make a valuable contribution to local literature and mitigate the gap evident in the frontier market setting. The sample of the study consisted of 123 mainboard listed companies that cover all non-financial sectors of the Colombo Stock Exchange for eight years from 2012 to 2019 and 6 CEO characteristic variables were empirically tested employing a regression model. The study reveals male CEOs variable is significant and having a positive relationship with debt financing which suggests male CEOs employ more debt due to their aggressive nature behavior compared to females. Similarly, CEO age is a significant variable and having a positive relationship with debt financing which indicates with age pass by CEOs employ more debt in the capital structure based on their experiences and business knowledge. These findings will help to appoint key decision-makers to run the organization and make appropriate strategic choices. The study hasn’t incorporated other CEO characteristics such as risk appetite levels which may have implications and haven’t consider the impact on the real financing decisions. en_US
dc.publisher Faculty of Commerce and Management Studies, University of Kelaniya en_US
dc.subject Capital structure, CEO characteristics, Non-finance companies, Sri Lanka, Upper echelon theory en_US
dc.title Impact of CEO Characteristics on Capital Structure of Non-Finance Listed Companies in Sri Lanka. en_US


Files in this item

This item appears in the following Collection(s)

Show simple item record

Search Digital Repository


Browse

My Account