File(s) under permanent embargo
Reason: Under embargo until May 2018. After this date a copy can be supplied under Section 51 (2) of the Australian Copyright Act 1968 by submitting a document delivery request through your library or by emailing email@example.com
MANAGERIAL ABILITY, COST OF DEBT AND THE MODERATING ROLE OF MANAGERIAL DISCRETION
thesisposted on 09.05.2017, 01:28 by KWOK TONG (Samuel) CHEUNG
This thesis investigates and provides empirical evidence on whether (1) more able managers are associated with lower cost of debt capital, (2) the association between more able managers and the cost of debt is affected by the degree of managerial discretion, and (3) the joint effect of managerial ability and discretion on the cost of debt is further conditioned by prior lending relationship. This thesis contributes to a better understanding of the role of managerial talent and discretion on the cost of debt capital, and also the role of prior lending relationship in such joint effect.