The Influence of CEO`s Personal Characteristics on The Financial Leverage Ratio in Russian Companies

Student: Dobryanskiy Artem

Educational Programme: Economics (Bachelor)

Year of Graduation: 2018

The purpose of this study is to find the specific personal characteristics of CEOs, which have an impact on the financial leverage indicator. The sample consisted of 97 observations, which included data on General Directors of Russian public companies. The indicator of financial leverage was used as a dependent variable. Linear regression was used for the analysis. The results were as follows: previous experience in CEO positions, the presence of a scientific degree or a completed MBA and the fact, that CEO is co-owner of the company, have a positive impact on the indicator. This study may be used in the future as a basis for researches about the impact of personal characteristics of managers on various financial indicators.

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