期刊名称：International Business & Economics Research Journal
印刷版ISSN：1535-0754
电子版ISSN：2157-9393
出版年度：2011
卷号：8
期号：12
语种：English
出版社：The Clute Institute for Academic Research
摘要：In this paper, we examine the relationship between managerial overconfidence and leverage. Analyzing a sample of firms listed on Korean Stock Market during the period from 1985 to 2007, we use the average of the past 12 months Business Survey Index (BSI) from Bank of Korea as proxy measure of managerial overconfidence. We find that managers tend to issue more debts when they have overconfidence and this result is consistent with Oliver (2009) and Yu et al. (2006).
