| Summary: | As the number of companies fall into financial distress increasing, while corporate governance is name to be one of the factors, more studies has focused on their relationship.Among the corporate governance mechanism being studied frequently is board of directors’ characteristics including board size, proportion of independent directors and potential duality.Those are the variables being examined in this paper.Based on the previous literature, however, there is no
conclusive argument can be made on whether all these three variables are positively or negatively
related to financial distress.The inconclusive argument could due to the type of data being
employed, for example between financial and non-financial data.
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