The Relationship between CEO Managerial Ability and Bank Loan Terms
碩士 === 元智大學 === 財務金融暨會計碩士班(財務金融學程) === 105 === This research examines the relationship between CEO managerial ability and bank loan terms. We use General Ability Index, which is created in a study of Custódio et al. (2013), as a measure of CEO managerial ability. We find that CEOs’ with high General...
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| Format: | Others |
| Language: | en_US |
| Published: |
2017
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| Online Access: | http://ndltd.ncl.edu.tw/handle/50489473753183837849 |
| Summary: | 碩士 === 元智大學 === 財務金融暨會計碩士班(財務金融學程) === 105 === This research examines the relationship between CEO managerial ability and bank loan terms. We use General Ability Index, which is created in a study of Custódio et al. (2013), as a measure of CEO managerial ability. We find that CEOs’ with high General Ability Index can help their firm reduce the bank loan cost and increase the loan size. In addition, we also investigate the different effects of Outsider CEO and Insider CEO on the loan spread and loan size. The results of Outsider CEOs show that Outsider CEOs do not have effect on bank loan spread but have a positively significant effect on bank loan size. In contrast, Insider CEOs have the different effects on both the loan spread and loan size. They have a negative effect on the loan spread and a positive effect on the loan size.
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