The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies
This study investigates the effect of cost of capital (represented by interest expenses, dividends, interest tax shields, gearing, and Z-score for probability of bankruptcy) and corporate governance characteristics (board size, board composition, role duality, top five largest shareholdings, and man...
| Main Author: | |
|---|---|
| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2010
|
| Online Access: | https://eprints.nottingham.ac.uk/23687/ |
| _version_ | 1848792614102368256 |
|---|---|
| author | Zhang, Weilin |
| author_facet | Zhang, Weilin |
| author_sort | Zhang, Weilin |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | This study investigates the effect of cost of capital (represented by interest expenses, dividends, interest tax shields, gearing, and Z-score for probability of bankruptcy) and corporate governance characteristics (board size, board composition, role duality, top five largest shareholdings, and management ownership) on corporate performance of 35 UK listed companies during and after the current economic crisis from 2007 to 2009. Management ownership is found to be significantly related to corporate performance based on both market and accounting measures. Additionally, score for probability of bankruptcy and board composition are significantly related to market performance based on Tobin’s Q-Ratio, while interest expenses, dividends, interest tax shields, and board size have significant relationship with accounting performance based on ROA. Control variables as firm size and industry type are taken into account in this study as well. |
| first_indexed | 2025-11-14T18:47:12Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-23687 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T18:47:12Z |
| publishDate | 2010 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-236872018-01-30T12:48:51Z https://eprints.nottingham.ac.uk/23687/ The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies Zhang, Weilin This study investigates the effect of cost of capital (represented by interest expenses, dividends, interest tax shields, gearing, and Z-score for probability of bankruptcy) and corporate governance characteristics (board size, board composition, role duality, top five largest shareholdings, and management ownership) on corporate performance of 35 UK listed companies during and after the current economic crisis from 2007 to 2009. Management ownership is found to be significantly related to corporate performance based on both market and accounting measures. Additionally, score for probability of bankruptcy and board composition are significantly related to market performance based on Tobin’s Q-Ratio, while interest expenses, dividends, interest tax shields, and board size have significant relationship with accounting performance based on ROA. Control variables as firm size and industry type are taken into account in this study as well. 2010 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/23687/1/Dissertation_Final.pdf Zhang, Weilin (2010) The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies. [Dissertation (University of Nottingham only)] (Unpublished) |
| spellingShingle | Zhang, Weilin The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies |
| title | The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies |
| title_full | The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies |
| title_fullStr | The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies |
| title_full_unstemmed | The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies |
| title_short | The Effect of Cost of Capital and Corporate Governance on the Performance of UK Quoted Companies |
| title_sort | effect of cost of capital and corporate governance on the performance of uk quoted companies |
| url | https://eprints.nottingham.ac.uk/23687/ |