Ownership structure and the cost of debt : evidence from an emerging market
Dissertant
Thesis advisor
University
Al Akhawayn University
Faculty
The School of Business Administration
University Country
Morocco
Degree
Master
Degree Date
2016
English Abstract
This study investigates the relationship between ownership structure and cost of debt in Morocco during the period between 2004 and 2014.
The research uses a panel data analysis and reports a negative relationship between ownership concentration and the cost of debt.
It also documents that the presence of institutional and family owners is negatively related to the cost of debt.
These ownership structures reflect decent governance mechanisms within the firm that serve as a grantee for creditors.
The relationships are also assessed in the pre and post-crisis periods.
The results appear to be more pronounced in the post-crisis period than in the pre-crisis period.
We argue that the incentives of shareholders to expropriate increase in economic downturns.
Mindful of the deterioration of corporate governance during economic slumps, the importance of concentrated, family, as well as institutional ownership increases, which explains their stronger negative relationship with cost of debt in the post-crisi s period
Main Subjects
Economics & Business Administration
No. of Pages
41
Table of Contents
Table of contents.
Abstract.
[Chapter One] : Introduction.
[Chapter Two] : Motivation and background.
[Chapter Three] : Methodology.
[Chapter Four] : Empirical procedure.
[Chapter Five] : Results and discussion.
[Chapter Six] : Robustness of results.
[Chapter Seven] : Limitations of the study.
[Chapter Eight] : Summary and conclusion.
References.
American Psychological Association (APA)
Guennioui, Malak. (2016). Ownership structure and the cost of debt : evidence from an emerging market. (Master's theses Theses and Dissertations Master). Al Akhawayn University, Morocco
https://search.emarefa.net/detail/BIM-775235
Modern Language Association (MLA)
Guennioui, Malak. Ownership structure and the cost of debt : evidence from an emerging market. (Master's theses Theses and Dissertations Master). Al Akhawayn University. (2016).
https://search.emarefa.net/detail/BIM-775235
American Medical Association (AMA)
Guennioui, Malak. (2016). Ownership structure and the cost of debt : evidence from an emerging market. (Master's theses Theses and Dissertations Master). Al Akhawayn University, Morocco
https://search.emarefa.net/detail/BIM-775235
Language
English
Data Type
Arab Theses
Record ID
BIM-775235
