• Refine Query
  • Source
  • Publication year
  • to
  • Language
  • 2
  • Tagged with
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • 2
  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

The relationship between capital structure, performance and replacement of CEO in firms listed on the Nairobi Securities Exchange

Otieno, Odhiambo Luther 01 1900 (has links)
This study investigated the relationship between capital structure, performance and replacement of chief executive officer in firms listed on the Nairobi Securities Exchange (NSE). Data was collected from a sample of 37 firms listed on the NSE over a period of 23 years, from 1990 to 2012. The analysis was conducted at three stages. The canonical correlation technique was employed to investigate the bi-directional relationship between capital structure and performance and to select competing indicators of performance and capital structure. Second, the general linear model (GLM) procedure was used to test the effect of performance and ownership structure and to test the effect of capital structure and ownership structure. Lastly, the generalised estimating equation (GEE) was used to assess effects of performance, capital structure and ownership structure on change in CEO. The results revealed that a bidirectional relationship exists between capital structure and debt capital. The indicators found to be useful in examining the relationship between performance and capital structure are asset turnover ratio and total debt to the total asset ratio. The findings support the efficiency hypothesis but not the franchise hypothesis. The results also indicated that firms with a low asset turnover are with a low asset turnover are 3.045 times likely to change CEO compared to firms with a high asset turnover. The results also indicated that firms with high leverage (debt) are he results also indicated that firms with high leverage (debt) are 3.430 times likely to change CEO compared to firms in low leverage, while the firms with medium leverage are are are are 6.491 times likely to change CEO. Therefore managers should not be passive when it comes to choosing between equity and debt capital played a disciplinary role on firms listed on the NSE. / Business Management / DCom (Business Management)
2

The relationship between capital structure, performance and replacement of CEO in firms listed on the Nairobi Securities Exchange

Otieno, Odhiambo Luther 01 1900 (has links)
This study investigated the relationship between capital structure, performance and replacement of chief executive officer in firms listed on the Nairobi Securities Exchange (NSE). Data was collected from a sample of 37 firms listed on the NSE over a period of 23 years, from 1990 to 2012. The analysis was conducted at three stages. The canonical correlation technique was employed to investigate the bi-directional relationship between capital structure and performance and to select competing indicators of performance and capital structure. Second, the general linear model (GLM) procedure was used to test the effect of performance and ownership structure and to test the effect of capital structure and ownership structure. Lastly, the generalised estimating equation (GEE) was used to assess effects of performance, capital structure and ownership structure on change in CEO. The results revealed that a bidirectional relationship exists between capital structure and debt capital. The indicators found to be useful in examining the relationship between performance and capital structure are asset turnover ratio and total debt to the total asset ratio. The findings support the efficiency hypothesis but not the franchise hypothesis. The results also indicated that firms with a low asset turnover are with a low asset turnover are 3.045 times likely to change CEO compared to firms with a high asset turnover. The results also indicated that firms with high leverage (debt) are he results also indicated that firms with high leverage (debt) are 3.430 times likely to change CEO compared to firms in low leverage, while the firms with medium leverage are are are are 6.491 times likely to change CEO. Therefore managers should not be passive when it comes to choosing between equity and debt capital played a disciplinary role on firms listed on the NSE. / Business Management / DCom (Business Management)

Page generated in 0.1757 seconds