CEO characteristics and capital structure dynamics: Evidence from a transitional economy
Author Identifier
Thao Nguyen: https://orcid.org/0009-0002-9839-8629
Document Type
Journal Article
Publication Title
Emerging Markets Review
Volume
64
Publisher
Elsevier
School
School of Business and Law
RAS ID
76517
Abstract
We investigate the relationship between CEO characteristics and the speed of adjustment (SOA) of capital structure for listed firms in Vietnam over the period 2000–2023. Our findings demonstrate that CEO gender, age, and education increase the SOA, but CEO tenure decreases the SOA. State ownership and firm size are closely associated with adjustment costs of capital structure. Our findings reveal that in State-Owned Enterprises (SOEs), long-tenured CEOs have a positive effect on the SOA, while the impact of CEO qualifications on the SOA is negative. The role of CEO characteristics is more pronounced during the COVID-19 pandemic.
DOI
10.1016/j.ememar.2024.101231
Access Rights
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Comments
Le, H. T., Nguyen, T., Hunjra, A. I., Truong, C., & Ntim, C. (2025). CEO characteristics and capital structure dynamics: Evidence from a transitional economy. Emerging Markets Review, 64. https://doi.org/10.1016/j.ememar.2024.101231