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Article

Влияние поведенческих аспектов на структуру капитала российских публичных компаний

Корпоративные финансы. 2011. № 3. С. 44-58.
Гайфутдинова Н. С., Кокорева М. С.

The paper presents the results of empirical testing of behavioral capital structure concepts relevance for leverage choice made by Russian companies. Conducted on the sample of 50 large public companies the analysis revealed the insignificance of market timing theory. However the results show that information cascades and management overconfidence and optimism can partly explain the debt-to-equity choice of Russian companies.