期刊名称：International Journal of Finance and Accounting
印刷版ISSN：2168-4812
电子版ISSN：2168-4820
出版年度：2013
卷号：2
期号：8
页码：452-458
DOI：10.5923/j.ijfa.20130208.08
语种：English
出版社：Scientific & Academic Publishing Co.
摘要：This study examines the effects of board of directors’ quality and audit committee quality on capital structure and the mediating role of financial reporting quality on the relationship between audit committee quality and capital structure using a sample of Omani listed firms during the period 2009-2011. The study used multiple regression analysis under the fixed effects model approach. First, the results show that financial reporting quality has a significant mediating role on the relationship between audit committee quality and a firm’s leverage market value on the one hand, and an insignificant mediating role on the relationship between audit committee quality and a firm’s leverage book value, on the other. Second, the results reveal that leverage market value is significantly influenced by the audit committee quality. Third, the board of directors’ quality is significantly and negatively correlated with a firm’s leverage market value, suggesting that the firms in Oman are usually large family-owned business groups with concentrated ownership. Thus, the board of directors may serve the purpose of family controlling shareholders. Further, directors on the board were influenced by the Arab traditional values and norms (e.g. personal relations and preference for individuals from influential tribes) which might affect their orientation and behavior. Fourth, the results also reveal that audit committee quality and board directors’ quality are not significantly correlated with leverage book value.
