University of Twente Student Theses
How do board characteristics influence bond ratings?
Herms, Julian (2020) How do board characteristics influence bond ratings?
PDF
423kB |
Abstract: | This paper investigates how board characteristics have an influence on corporate bond ratings. Two theories, the agency- and the resource dependency theory, are used to explain the behavior of board characteristics on bond ratings. The empirical research provides significant evidence that larger boards lead to a higher bond rating at issuance date. Furthermore, the size of the audit committee has a positive impact on bond ratings. Contradicting to previous research in the field of corporate governance, board independence fails to have a meaningful influence on bond ratings neither equity ownership of board members. |
Item Type: | Essay (Bachelor) |
Faculty: | BMS: Behavioural, Management and Social Sciences |
Subject: | 85 business administration, organizational science |
Programme: | International Business Administration BSc (50952) |
Link to this item: | https://purl.utwente.nl/essays/83001 |
Export this item as: | BibTeX EndNote HTML Citation Reference Manager |
Repository Staff Only: item control page