CEO characteristics and capital structure dynamics: Evidence from a transitional economy

Le H. T., Nguyen T., Hunjra A. I., Truong C., Ntim C.

Emerging Markets Review, vol.64, 2025 (SSCI, Scopus) identifier

  • Nəşrin Növü: Article / Article
  • Cild: 64
  • Nəşr tarixi: 2025
  • Doi nömrəsi: 10.1016/j.ememar.2024.101231
  • jurnalın adı: Emerging Markets Review
  • Jurnalın baxıldığı indekslər: Social Sciences Citation Index (SSCI), Scopus, Academic Search Premier, ABI/INFORM, Business Source Elite, Business Source Premier, EconLit, PAIS International
  • Açar sözlər: Capital structure, CEO characteristics, Speed of adjustment, State-owned enterprises
  • Açıq Arxiv Kolleksiyası: Məqalə
  • Adres: Yox

Qısa məlumat

We investigate the relationship between CEO characteristics and the speed of adjustment (SOA) of capital structure for listed firms in Vietnam over the period 2000–2023. Our findings demonstrate that CEO gender, age, and education increase the SOA, but CEO tenure decreases the SOA. State ownership and firm size are closely associated with adjustment costs of capital structure. Our findings reveal that in State-Owned Enterprises (SOEs), long-tenured CEOs have a positive effect on the SOA, while the impact of CEO qualifications on the SOA is negative. The role of CEO characteristics is more pronounced during the COVID-19 pandemic.