Boubaker, Sabri; Hamza, Taher - In: Economics Bulletin 34 (2014) 4, pp. 2324-2339
We investigate the role of managerial overconfidence in shaping corporate debt financing policy. Using a sample of 229 small French companies listed during 2003–2012, we show that overconfident owner–managers opt for less levered financing structures than their non-owner peers. Additional...