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C-Suite Bias, Firm Characteristics, and Capital Structure Decisions of Quoted Industrial Firms in Nigeria

Authors:

Temitope Olamide Fagbemi ,

Robert Gordon University, GB
About Temitope Olamide
Aberdeen Business School
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Maryam Ayobami Kolawole,

University of Ilorin, NG
About Maryam Ayobami
Department of Accounting
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Ezekiel A. Adigbole,

University of Ilorin, NG
About Ezekiel A.
Department of Accounting
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Segun Abogun

University of Ilorin, NG
About Segun
Department of Accounting
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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.
How to Cite: Fagbemi, T.O., Kolawole, M.A., Adigbole, E.A. and Abogun, S., 2022. C-Suite Bias, Firm Characteristics, and Capital Structure Decisions of Quoted Industrial Firms in Nigeria. Colombo Business Journal, 13(2), pp.21–47. DOI: http://doi.org/10.4038/cbj.v13i2.123
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Published on 31 Dec 2022.
Peer Reviewed

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