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AuthorElgammal, Mohammed M.
AuthorAl-Najjar, Basil
Available date2023-02-28T09:21:23Z
Publication Date2022-06
Publication NameInternational Journal of Accounting, Auditing and Performance Evaluation
Identifierhttp://dx.doi.org/10.1504/IJAAPE.2022.123291
CitationElgammal, M. M., & Al-Najjar, B. (2022). The impact of ownership structure and corporate governance on capital structure decisions in the UAE. International Journal of Accounting, Auditing and Performance Evaluation, 18(1), 28-48.
ISSN1740-8008
URIhttps://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85132156880&origin=inward
URIhttp://hdl.handle.net/10576/40513
AbstractThis paper investigates how ownership and corporate governance influence the capital structure decisions within an emerging market context, namely the United Arab Emirates (UAE) from 2008 to 2019. We employ panel models as well as the Two Stages Least Squares (2SLS) technique. Our reported results show that board structure has a negative effect on capital structure decisions. We also detect a positive impact of institutional ownership and managerial ownership on capital structure, while government ownership is inversely associated to capital structure. Finally, we report that profitability negatively affects a firm’s capital structure. Thus, we argue that the main determinants of capital structure reported in the developed markets literature do hold in the UAE settings. Accordingly, this study contributes to previous studies in the capital structure context and adds to its puzzle by introducing new insights into the capital structure choice in a free tax environment.
Languageen
PublisherInderscience Enterprises Ltd.
Subjectcapital structure
corporate governance
ownership structure
panel data
UAE
TitleThe impact of ownership structure and corporate governance on capital structure decisions in the UAE
TypeArticle
Pagination28-48
Issue Number1
Volume Number18
ESSN1740-8016
dc.accessType Abstract Only


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