Generolo Jono Žemaičio Lietuvos karo akademija

The purpose of this study is to examine the impact of women empowerment through board diversity along with governance variables on capital structure and leverage dimensions. To achieve this objective, sample of 35 business firms over 2012-2016 is collected in the region of Thailand. Secondary data approach is implemented with descriptive and regression analysis. It is found that board diversity (presence of female members) is significantly associated to capital structure and leverage pattern. With the presence of firm age, fixed payments and risk factor, this effect is found to be true for total loan and leverage factors but insignificant for the debt to equity ratio. Effect of board size on capital structure and leverage dimensions is also found to be significant. Meanwhile, effect of age on debt ratio and total loan is positively significant but negatively significant for total leverage. Practical significance of the study covers managerial implication in the field of corporate governance and risk-taking behavior through capital structure and leverage.