Optimistic Disclosure Tone and Conservative Debt Policy.

We examine the relationship between managerial optimism and debt conservatism (i.e., the low‐leverage puzzle). Our analysis demonstrates that optimistic tone, our time‐varying optimism measure, significantly decreases leverage. This evidence supports the proposition that optimistic managers who cons...

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Detalles Bibliográficos

Publicado en:	Abacus Vol. 54; no. 4; pp. 445 - 485
Autores principales:	Ataullah, Ali, Vivian, Andrew, Xu, Bin
Formato:	Artículo
Publicado:	Wiley-Blackwell Dec2018
Materias:	Emerging markets Industrial management Dividends Stock price forecasting Earnings management
Acceso en línea:	Ver este registro en EBSCOhost