ANALYZING THE IMPACT OF BOARD VIGILANCE ON DEBT MATURITY IN AN EMERGING ECONOMY: MODERATED BY FIRM GROWTH

Shahbaz Khan; Haroon Hussain; Ilyas Ahmad; Rana Yassir Hussain; Muhammad Usman

Abstract:

This study investigates the moderating role of firm growth on the relationship between board vigilance and corporate debt maturity. The panel data set consist of 284 listed non-financial firms in Pakistan for a period of five ranging from 2013 to 2017. To better control the heteroskedacity and autocorrelation issues we have panel corrected standard errors regression (PCSE) technique. The board independence had a significant positive impact on debt maturity, whereas CEO nonduality had a negative but insignificant impact on corporate short debt maturity. Firm growth negatively moderated the relationship between but it was significant for board independence and debt maturity nexus and insignificant for CEO non-duality and debt maturity relationship.

research from:

• Foundation University - Faculty of Management Sciences

Year:

2020

Type of Publication:

Article

Journal:

HAMDARD ISLAMICUS

Volume:

43

Number:

3

Pages:

550-560

Month:

9