Department of Accounting, Faculty of Economics and Administrative Sciences, The Hashemite University, Zarqa, Jordan.
Department of Risk Management and Insurance, The University of Jordan, Aqaba Branch, Aqaba, Jordan.
PLoS One. 2021 May 4;16(5):e0250242. doi: 10.1371/journal.pone.0250242. eCollection 2021.
Corporate governance is the way of governing a firm in order to increase its accountability and to avoid any massive damage before it occurs. The aim of this paper is to investigate the impact of capital structure, firms' size, and competitive advantages of firms as control variables on credit ratings. We investigate the role of corporate governance in improving the firms' credit rating using a sample of Jordanian listed firms. We split firms into four categories according to WVB credit rating. We use both the binary logistic regression (LR) and the ordinal logistic regression (OLR) to model credit ratings in Jordanian environment. The empirical results show that the control variables are strong determinants of credit ratings. When we evaluate the relationship between the governance variables and credit ratings, we found interesting results. The board stockholders and board expertise are moderately significant. The board independence and role duality are weakly significant, while board size is insignificant.
公司治理是管理公司的一种方式，旨在提高其问责制，并在发生重大损失之前加以避免。本文旨在探讨资本结构、公司规模和公司竞争优势等控制变量对信用评级的影响。我们通过对约旦上市公司的样本进行调查，研究了公司治理在提高公司信用评级方面的作用。我们根据 WVB 信用评级将公司分为四类。我们使用二元逻辑回归 (LR) 和有序逻辑回归 (OLR) 来对约旦的信用评级进行建模。实证结果表明，控制变量是信用评级的重要决定因素。当我们评估治理变量与信用评级之间的关系时，我们发现了一些有趣的结果。董事会股东和董事会专业知识具有中等重要性。董事会独立性和角色双重性具有较弱的重要性，而董事会规模则不重要。
