From two websites:
The specification recommends 24AWG twisted pair cable with a shunt capacitance of 16 pF per foot and 100 ohm characteristic impedance.
The standard also states that the maximum cable length is 50 feet, OR the cable length equal to a capacitance of 2500 pF. The latter rule is often forgotten. This means that using a cable with low capacitance allows you to span longer distances without going beyond the limitations of the standard. If for example UTP CAT-5 cable is used with a typical capacitance of 17 pF/ft, the maximum allowed cable length is 147 feet.
The cable length mentioned in the standard allows maximum communication speed to occur. If speed is reduced by a factor 2 or 4, the maximum length increases dramatically. Texas Instruments did some practical experiments years ago at different baud rates to test the maximum allowed cable lengths. Keep in mind, that the RS232 standard was originally developed for 20 kbps. By halving the maximum communication speed, the allowed cable length increases a factor ten.
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