Corporate governance is usually viewed in the context of strengthening shareholder rights and enhancing shareholders’ welfare. However, the impact of corporate governance on bondholders is much less understood. We explore how corporate governance influences the cost of debt financing. Using...

Motivated by agency theory, we investigate how a firm’s overall quality of corporate governance affects its dividend policy. Using a large sample of firms with governance data from The Institutional Shareholder Services (ISS), we find that firms with stronger governance exhibit a higher...

Corporate governance is usually viewed in the context of strengthening shareholder rights and enhancing shareholders' welfare. However, the impact of corporate governance on bondholders is much less understood. We explore how corporate governance influences the cost of debt financing. Using...

Grounded in agency theory, this study explores how capital structure is influenced by aggregate corporate governance quality. We employ broad-based governance measures that encompass multiple factors, including boards, audit quality, charter/bylaws, director quality, executive compensation,...