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Does minority management affect a firm's capital structure? Evidence from Japan

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journal contribution
submitted on 2023-11-23, 10:36 and posted on 2023-11-23, 11:27 authored by Rami Zeitun, Mohamed Goaied, Hisham Al Refai

This study evaluates the effect of minority management (MG) on capital structure for a sample of listed Japanese companies over three sectors. We used a dynamic panel, threshold-based model that can control for endogeneity to investigate the linkage between the speed of adjustment of leverage and MG, with the results proving that there is significant linkage between MG and leverage. We also observed that the level of MG has a threshold effect on leverage, such that firms with a high level of MG can reach their optimal leverage faster than those with a low level of MG.

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Published in: Finance Research Letters
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Open Access funding provided by the Qatar National Library.



  • English



Publication Year

  • 2022

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This Item is licensed under the Creative Commons Attribution 4.0 International License.

Institution affiliated with

  • Qatar University
  • College of Business and Economics - QU

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