Dr Tope Fagbemi t.fagbemi@rgu.ac.uk
Lecturer
C-suite bias, firm characteristics, and capital structure decisions of quoted industrial firms in Nigeria.
Fagbemi, Temitope Olamide; Kolawole, Maryam Ayobami; Adigbole, Ezekiel A.; Abogun, Segun
Authors
Maryam Ayobami Kolawole
Ezekiel A. Adigbole
Segun Abogun
Abstract
Most people exaggerate their own skills and accomplishments, which can have disastrous results. The C-suite has a tremendous impact on business choices, as decisions made in the workplace can be skewed by unconscious prejudice, and this bias can have negative consequences. Therefore, this study explores C-suite bias, firm characteristics, and capital structure decisions of quoted industrial goods firms in Nigeria. Data from 2002 to 2020 was used in an ex-post-facto research design while pooled OLS was used for analyses. The study found that C-suite tenure had a favourable influence on capital structure, suggesting that the duration during which C-suite executives govern their firms' affairs has a beneficial effect on the capital structure decisions. Therefore, the study advances that corporations should enable C-suite members to serve for a longer period of time; because the longer they remain at the helm of the company's affairs, the better their capital structure decisions.
Citation
FAGBEMI, T.O., KOLAWOLE, M.A., ADIGBOLE, E.A. and ABOGUN, S. 2023. C-suite bias, firm characteristics, and capital structure decisions of quoted industrial firms in Nigeria. Colombo business journal [online], 13(2), pages 21-47. Available from: https://doi.org/10.4038/cbj.v13i2.123
| Journal Article Type | Article |
|---|---|
| Acceptance Date | Jun 14, 2022 |
| Online Publication Date | Dec 31, 2022 |
| Publication Date | Dec 31, 2022 |
| Deposit Date | Jun 5, 2023 |
| Publicly Available Date | Jun 5, 2023 |
| Journal | Colombo business journal |
| Print ISSN | 1800-363X |
| Electronic ISSN | 2579-2210 |
| Publisher | University of Colombo (Faculty of Management and Finance) |
| Peer Reviewed | Peer Reviewed |
| Volume | 13 |
| Issue | 2 |
| Pages | 21-47 |
| DOI | https://doi.org/10.4038/cbj.v13i2.123 |
| Keywords | C-suites; Behavioural accounting; Capital structure; Biases; Overconfidence |
| Public URL | https://rgu-repository.worktribe.com/output/1973063 |
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Copyright Statement
© 2022 The Authors. This work is licensed under a Creative Commons Attribution 4.0 International License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.