Economics at your fingertips  

On the relationship between managers’ preferences and debt financing: evidence from Vietnamese firms

Huong Trang Kim

Post-Communist Economies, 2022, vol. 34, issue 4, 423-444

Abstract: This study attempts to investigate risk and time preferences of top managers to see if there is a link between managers’ traits and debt-financing behaviours of firms. Accordingly, we conduct an experimental study with a sample of 623 top managers from Vietnamese textile and garment firms. We find strong evidence that firms led by loss-averse managers are less likely to access both foreign and domestic debt, while debt level is substantially lower for firms led by impatient managers. It is worth noting that our study sheds further light on the current literature by providing evidence that managers’ preferences have significant impact on debt-financing behaviour of SMEs, but their effects on large firms are very modest.

Date: 2022
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

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:

Ordering information: This journal article can be ordered from

DOI: 10.1080/14631377.2021.1918958

Access Statistics for this article

Post-Communist Economies is currently edited by Roger Clarke

More articles in Post-Communist Economies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

Page updated 2022-07-05
Handle: RePEc:taf:pocoec:v:34:y:2022:i:4:p:423-444