摘要：This study seeks to explain the debt structure, as well as the mechanisms of control and incentives in the relationship between debt and managerial entrenchmen t, the results in theoretical work shows the role of debt in the control of the behaviour of managers find that firms with higher managerial entrenchment have lower level of debt. Specifically, firms with CEO who chairs the board, lower proportion of outside directors and higher CEO tenure, have lower debt. Finally, we also found the impact of control mechanisms on the nature of the relationship between debt and managerial entrenchment
关键词：Managerial entrenchment; Debt; ; Leader; Creditor; Control mechanism
