Examining the relationship between the manager personality and corporate financial leverage in Egypt /
ار ا ا و اا ا ت ى
Doaa Samy Sedeek Mohamed ; Supervised Marwan Abdeldayem
- Cairo : Doaa Samy Sedeek Mohamed , 2014
- 159 Leaves ; 30cm
Thesis (M.Sc.) - Cairo University - Faculty of Commerce - Department of Business Administration
The purpose of this thesis is to examine the importance of manager characteristics in explaining the capital structure decisions of the Egyptian firms using a simple random sample of the firms in the Egyptian stocks exchange (EGX) contains 31 firms. The quantitative approach is used to understand how managerial personality traits influence the corporate leverage ratio which the study is based on questionnaire as a data collection tool of the managerial related information and published financial statement of the responding firms for three consecutive years 2011, 2012, 2013. Cross sectional analysis is applied to assess the effect of managerial personality on the corporate financial leverage. Hierarchical type of regression is used due to the existence of the control variables to assess only the effect of the managerial personality. Finally, T - test is used to test the research hypotheses and differentiate between the managers. Findings The findings suggest that managerial risk propensity has an effect on the leverage ratio and risk averse managers differ from non risk averse managers in terms of leverage level of their firms which the risk averse managers tend to use lower leverage ratio level
Behavioral finance Capital structure Egyptian listed firms