CEO DUALITY AND ASSETS TANGIBILITY: LEVERAGE MATURITY AS MODERATOR IN LISTED CORPORATIONS AT PSX

This study examined the moderating effect of leverage maturity in the relationship between CEO duality and asset tangibility. For accomplishment of research objective, data was collected from 101 textile companies listed on the Pakistan Stock Exchange (PSX) from year 2012 to 2017. This research used one-step system generalized method of moment (system GMM) regression on panel data obtained from secondary sources to analyze the association between the variables. The findings indicated that CEO duality has a significant negative effect on asset tangibility, which is moderated by leverage maturity ratio. The study documents that long term debts motivate management to keep more fixed assets in their asset structure because these are collateralized when external funding is needed.