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The Relationship Between Managers’ Overconfidence and Financing Decisions With Special Focus on Ownership Structure
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نویسنده
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Salehi Soosan ,Abdoli Mohammad Reza ,Eskandari Mehdi
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منبع
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International Journal Of Management, Accounting And Economics - 2017 - دوره : 4 - شماره : 8 - صفحه:857 -879
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چکیده
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Overconfidence is one of the critical concepts of modern behavioral finance highly interested in financial theories and psychology. the main objective of the present research is to study the relationship between managers’ overconfidence and financing decisions (capital structure) concentrated on ownership structure in tehran stock exchange. research time span is from 2011 to 2015 (a 5-year period). results of testing research hypotheses of 146 firms revealed that overconfidence and ownership type have no significant effect on financial decisions. in addition, ownership type and institutional owner ration showed no significant effect on the relationship between overconfidence and financial decisions. whereas, according to the obtained results, institutional owner ratio significantly influences financial decisions.
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کلیدواژه
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Managers’ Overconfidence ,Capital Structure ,Ownership Structure ,Institutional Owner Ratio
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آدرس
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Barayand Institute Of Higher Education, Department Of Accounting, Iran, Islamic Azad University, Shahrood Branch, Department Of Accounting, Iran, Islamic Azad University, Shahrood Branch, Department Of Accounting, Iran
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Authors
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