the proportion of shares held by all members of the board of directors divided by total ordinary shares outstanding.
Barnhart and Rosenstein (1998) ; Al-Matari & Al-Arussi (2016) ; Alabdullah (2018) ; Ekpulu and Omoye (2018) ; Kanakriyah (2021) ; Ogabo et al. (2021) .
Firm Leverage (LEV)
Total debts divide by Total Assets
Beasley and Salterio (2001) ; Klein (2002) ; Davidson et al. (2005) ; Yang et al. (2008) ; Banderlipe (2009) ; Sáenz González and García-Meca (2014) ; Kao et al. (2019) ; Abdeljawad & Masri (2020) .