Proceedings of Annual Paris Business Research Conference
13 - 14 August 2015, Crowne Plaza Hotel Republique, Paris, France
ISBN: 978-1-922069-82-5
The Role of Corporate Governance in the Determinants of
Corporate Financial Decisions
Ritab Al-Khouri
Previous research had treated corporate dividend policy and capital structure decision
separately. This research aims to study the role of corporate governance in the
simultaneous determinants of both dividend policy and corporate capital structure of firms
listed in the Qatar Stock Exchange. We selected the case of Qatari firms where large
shareholders play a dominant role in corporate ownership and corporate financial
decisions. To test our hypotheses, we use Generalized Method of Moments (GMM)
technique. Results indicate that Qatari companies consider their dividend policy separate
from their capital structure decision. The ownership structure was not a significant factor
in determining either decision. In addition; the factors that affect the corporate capital
structure are different from the factors that affect the dividend policy.
Track: Finance
Keywords: Dividend Policy, Capital Structure, Minority Shareholders, Blockholders.
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Professor Dr. Ritab Al-Khouri, College of Business and Economics, Department of Finance and Economics,
Qatar University, Email: r.al-khouri@qu.edu.qa