Relationship between C.E.O Ownership and the Debt
Kammoun Chafik, Boujelbène Younes

Abstract
There are many studies investigating the causal relationship between C.E.O ownership and the debt using time series data, but there are not many investigating causality using panel data. In this paper, we estimate the dynamic relationship between C.E.O ownership and the debt. Our empirical study recently bases on various estimation methods developed within dynamic panel framework for a sample of 70 U.S. firms over the period (2000-2009). We used Generalized Moment Method, causality tests and unit root applied to panel data. Results suggest a negative and significant relation between C.E.O ownership and the debt for all firms sample.

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