Abstract
This paper investigates the impact of corporate governance structure on the firm's debt costs under different governance environments. We find that after the 2008 banking crisis, family firms with controlling shareholders benefit from lower debt cost through the strong control rights of dominating large shareholders, compared with the firms with diversified minority-shareholders. Foreign investors are related statistically to the higher cost of debt. Before the 2008 banking crisis, cash flows and growth potentials are positively associated with the firm's cost of debt.
Full Text 
Sign-in/Register to access full text options
Sign-in/Register to access full text options 
Published version (
Free)
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
