Influence of Director Expertise on Capital Structure and Cash Holdings in High-Tech Firms

Many “High-Tech” firms enjoy high market valuations despite negative earnings and low cash flows due in part to what many see as future bountiful earnings and cash flows, which is a cause for concern. How can corporate governance help? Do well-informed boards assist corporate success through better governance through their influence on financial policy: Capital Structure and Cash Holdings? We test these effects in “High-Tech firms” by segmenting...