Big or Small? Does Board Size Matter in Times of Financial Distress? Evidence from Kenyan Listed Firms - A panel Approach.
Journal Title: Africa International Journal of Multidisciplinary Research - Year 2018, Vol 2, Issue 2
Abstract
The study sought to establish the effect of board size on financial distress of listed firms in Kenya. The study used a panel study of a 10 year firm observations from 2004-2013. The study utilized resource dependency theory to underpin the study. Financial distress was measured using Altman Z score. Random effect model was used to achieve the objective of the study. The study findings indicated that board size was positive but insignificant with financial distress of listed firms in Kenya (β=. 0.490>0.05). Board size does not matter in times of financial distress in Kenya. Few empirical studies have examined the effectiveness of the board size with financial distress especially in the developing countries. This study contributes to the existing literature by examining such associations and providing updated empirical evidence from a developing country.
Authors and Affiliations
Kennedy B Mwengei Ombaba, Lydia Muriuki, Innocent Masase Mochabo
Keywords
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- EP ID EP272754
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