Managerial optimism and post-financing stock performance in Taiwan: A comparison of debt and equity financing

Chih-Yung Wang, Yu-Fen Chen and Chia-Wen Yu

Economics Letters, 2013, vol. 119, issue 3, 332-335

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.

Keywords: Managerial optimism; Market timing; Financing decisions (search for similar items in EconPapers)
JEL-codes: G02 G32 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176513001195
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:119:y:2013:i:3:p:332-335

DOI: 10.1016/j.econlet.2013.03.010

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().