The impact of banker in board on debt ratio of firm

• Main Authors: Siao-Ting Lin, 林筱婷
• Other Authors: Hsien-Chang Kuo
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/68103981824955113619

碩士 === 國立暨南國際大學 === 財務金融學系 === 95 === The primary purpose of this paper is to analyze the impact that bankers on the board are a firm’s debt ratio. Then discussing bankers service that offer on the board and analyze what it will be role that act mainly. Our research is utilized method of two-stage simultaneous estimation procedure. The empirical results show that 1 .bankers on a firm’s board positively and significantly affects the long debt ratio. The results suggest that bankers provide expertise and certification; 2.in total sample and large firm sample, lending bankers also positively and significantly affects the long debt ratio. the longer lending bankers, the more sensitive is its debt ratio to the collateral, raising debt ratio implies that lending bankers are the “disabled monitors” roles. Disabled monitors exist in the sample that enters the firm’s board after financing activity.; 3.in contrast, in small firm sample, lending bankers on a firm’s board negatively affects the debt ratio. the longer lending bankers, the less sensitive is its debt ratio to the collateral. The results suggest that lending bankers exercise a monitoring role for small firm. monitors exist in the sample that enters the firm’s board before financing activity.