Home  Journals  Financial Analytics: Science and Experience  47(185) - 2013 December

Investigation of composition and evaluation of factors shaping the capital structure of companies

Available online: 30 December 2013

Subject Heading: ECONOMICS OF ENTERPRISE

JEL Classification: 

In the article empirical evidence of the effect of behavioral factors on corporate decisions relative to capital structure are presented. Using panel data on public Russian companies, the authors prove that optimism and overconfidence contribute to debt resources accumulation by distorting managers' view concerning probability distribution and risks. In this connection, the extension of the list of traditional factors influencing the choice of financial resources by behavioral ones is reasonable.

Keywords: structure, capital, company, behavioral factor

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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