Article ID Journal Published Year Pages File Type
5059780 Economics Letters 2013 4 Pages PDF
Abstract
We compare post-financing stock performance for debt-issuing portfolio with equity-issuing one in Taiwan to identify whether firms' financing decisions were driven by managerial optimism or market timing. Our result supports corporate financing decisions in Taiwan are driven by managerial optimism.
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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Managerial optimism and post-financing stock performance in Taiwan: A comparison of debt and equity financing
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