[PDF] Top 20 The impact of a managerial overconfident narrative on capital structure decisions

... sections of the annual reports, influences negatively the total debt ratio of the ...obtained on Model 3, when testing the impact of a CEO/CFO ... See full document

... in the profession as a significant aspect to be taken into ...account. Decisions based upon this premise may nevertheless lead to a perverse social ...distortion on economy by giving managers ... See full document

... level of leverage is growth opportunities. The relation between this factor and leverage is going to be ...investments decisions that are potentially good for them at the expense of ... See full document

... whether managerial incentives or en- trenchment affected the survey ...affected the choices made by corporate executives. All in all, the variation in executive and company characteristics ... See full document

... in managerial terms for several reasons. By providing estimates on the impact that (excessive) leverage, and consequent distress costs, have on the firm’s human capital, ... See full document

... that the assumptions of the Modigliani and Miller (1958) Theorem were to be relaxed, the capital structure would become very relevant for the company’s ...impacts ... See full document

... Based on a sample of non-financial listed firms in 14 Western European countries for the period between 2004 and 2015, we divided our sample according to R&D intensity ...specifically, the ... See full document

... terms of their capital structure: raise their equity, debt, a combination of both or also search for other outstanding securities, to increase ...funding. The decision between equity ... See full document

... issuance decisions are shaped by market ...effect on the amount of proceeds raised during the IPO, confirming that hot-market firms benefit from “windows of opportunity” to issue ... See full document

... purpose of the present study is to endeavor the explanatory capacity of family ownership in determining the capital structure of the ...for the period ... See full document

... since the equity value tends to increase. By using the Black-Scholes model (Black & Scholes, 1973), the decision on taking the risky project will have, relating to the assets ... See full document

... The capital structure of a firm is a specific mixture of debt and equity that the firm uses to finance its operations (Abor, ...2007). The literature in capital ... See full document

... in the risk management literature as a state where a levered firm incurs additional losses (deadweight costs) because its cash flows are not sufficient to cover debt ...payments. The papers that have ... See full document

... growth of small businesses are normally related to institutional and financial ...to the interaction with government, including legalization, taxation and government ...support. On the other ... See full document

... Regarding the trade-off theory, its central aspect is that firms set an optimal ratio of capital structure, which they try to reach by maximizing the tax gains on interest ... See full document

... In the context of family businesses, the same reasoning obviously applies and, actually, given the informational opacity that characterizes most family firms, the asymmetric information ... See full document

... its impact on financial deregulation cannot be left aside. The repeal of the Glass-Steagall Act in the US in 1999, which put an end to the separation between commercial ... See full document

... decrease the percentage of debt in its capital structure in Debt Crisis, however with Troika’s assistance and the imposition of limits in bank’s leverage, that affect the ... See full document

... in the network with whom they have dealt multiple times in the past to obtain information regarding a potential partner before collaboration activities can be carried ...performance of inter-firm ... See full document

... Specifically, the GenEconOutolook and the AccessPubFin do not impact the change in debt, given their statistical insignificance, whereas SMEs’ OwnCapital and CreditHist remain relevant ... See full document