المؤلفون: Wang, Wei, Qu, Xiao-hui, Du, Jian-Ju, Zhu, Jia-Ming

المصدر: Complexity; 6/22/2021, p1-9, 9p

مصطلحات موضوعية: FAIR value, FIXED effects model, PERMUTATIONS, EXECUTIVES, CORPORATE governance

مستخلص: Adopting fair value measurement may bring more earnings fluctuations and induce irrational psychology and radical financing behavior of managers. Based on behavioral corporate governance theory, using the sample of Chinese A-share nonfinancial listed companies during 2007–2017, this paper empirically examines the regulatory effect of fair value measurement, that is, whether fair value measurement affects the company's financing decisions when managers have irrational psychological characteristics, i.e., overconfidence. The study found that overconfident managers of the company that have fair value measurement assets will be more aggressive for debt decisions, indicating that fair value measurement has a positively regulatory effect on overconfident managers. [ABSTRACT FROM AUTHOR]

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المؤلفون: Wei Wang, Jia-Ming Zhu, Xiao-hui Qu, Jian-Ju Du

المصدر: Complexity, Vol 2021 (2021)

مصطلحات موضوعية: Finance, 050208 finance, Multidisciplinary, General Computer Science, Earnings, Article Subject, business.industry, Corporate governance, media_common.quotation_subject, 05 social sciences, Sample (statistics), Fixed effects model, QA75.5-76.95, Irrational number, Fair value, Debt, Electronic computers. Computer science, 0502 economics and business, business, 050203 business & management, media_common, Overconfidence effect

الوصف: Adopting fair value measurement may bring more earnings fluctuations and induce irrational psychology and radical financing behavior of managers. Based on behavioral corporate governance theory, using the sample of Chinese A-share nonfinancial listed companies during 2007–2017, this paper empirically examines the regulatory effect of fair value measurement, that is, whether fair value measurement affects the company's financing decisions when managers have irrational psychological characteristics, i.e., overconfidence. The study found that overconfident managers of the company that have fair value measurement assets will be more aggressive for debt decisions, indicating that fair value measurement has a positively regulatory effect on overconfident managers.

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URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::07fb07a2f1c038dd367260b4838bc292