Corporate Governance and Capital Structure of Small Business Service Firms in India

Abstract

This study examines the relationship between corporate governance and capital structure of small business service firms in India. This study also seeks to extend the findings of Gill et al. (2012). The owners of small business service firms in the Punjab area of India were surveyed to collect data. Subjects were asked about their perceptions, beliefs, and feelings regarding the corporate governance and capital structure of their small business service firms. Results show that CEO Duality, Board Size, Small Business Growth, and Family positively impact on the capital structure of small business service firms in India. This study contributes to the literature on the relationship between corporate governance and capital structure of small business firms. The findings may be useful for small business management consultants.