Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia

Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia

This paper examines the firm's leverage decision from new perspectives, namely managerial overconfidence and human governance. The balanced panel sample covers Malaysian public listed companies from 2002 to 2011. The objectives of this study are to investigate the relationship between manageria...

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Main Authors: Irene, Wei Kiong Ting, Noor Azlinna, Azizan, Kweh, Qian Long
Format: Article
Language:English
Published: Inderscience Enterprises Ltd. 2016
Subjects:
T Technology (General)
TA Engineering (General). Civil engineering (General)
Online Access:http://umpir.ump.edu.my/id/eprint/12009/
http://umpir.ump.edu.my/id/eprint/12009/
http://umpir.ump.edu.my/id/eprint/12009/
http://umpir.ump.edu.my/id/eprint/12009/1/Managerial%20Overconfidence%20and%20Leverage%20Decision.%20The%20Moderating%20Effect%20of%20Human%20Governance%20In%20Malaysia.pdf
id ump-12009
recordtype eprints
spelling ump-120092018-10-11T07:40:02Z http://umpir.ump.edu.my/id/eprint/12009/ Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia Irene, Wei Kiong Ting Noor Azlinna, Azizan Kweh, Qian Long T Technology (General) TA Engineering (General). Civil engineering (General) This paper examines the firm's leverage decision from new perspectives, namely managerial overconfidence and human governance. The balanced panel sample covers Malaysian public listed companies from 2002 to 2011. The objectives of this study are to investigate the relationship between managerial overconfidence and its moderating effect on the relationship between CEO personal characteristics and firm leverage decisions. The findings are as follows: 1) CEO overconfidence, age and prior experience are significantly negative related to leverage; 2) The higher the education, the higher the debts; 3) CEO tenure is significantly positive related to leverage; 4) The higher the overconfidence level in presence of their age, the more the debts; 5) Firm leverage is lower when CEO with higher educational degree has higher confidence level. The result of the paper can fill the gap in the literature on the managerial overconfidence and its relationship with leverage decision of Malaysian public listed companies. Inderscience Enterprises Ltd. 2016 Article PeerReviewed application/pdf en http://umpir.ump.edu.my/id/eprint/12009/1/Managerial%20Overconfidence%20and%20Leverage%20Decision.%20The%20Moderating%20Effect%20of%20Human%20Governance%20In%20Malaysia.pdf Irene, Wei Kiong Ting and Noor Azlinna, Azizan and Kweh, Qian Long (2016) Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia. Journal for Global Business Advancement (JGBA), 9 (1). pp. 38-51. ISSN 1746-966X (print); 1746-9678 (online) http://dx.doi.org/10.1504/JGBA.2016.074894 DOI: 10.1504/JGBA.2016.074894
repository_type Digital Repository
institution_category Local University
institution Universiti Malaysia Pahang
building UMP Institutional Repository
collection Online Access
language English
topic T Technology (General)
TA Engineering (General). Civil engineering (General)
spellingShingle T Technology (General)
TA Engineering (General). Civil engineering (General)
Irene, Wei Kiong Ting
Noor Azlinna, Azizan
Kweh, Qian Long
Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia
description This paper examines the firm's leverage decision from new perspectives, namely managerial overconfidence and human governance. The balanced panel sample covers Malaysian public listed companies from 2002 to 2011. The objectives of this study are to investigate the relationship between managerial overconfidence and its moderating effect on the relationship between CEO personal characteristics and firm leverage decisions. The findings are as follows: 1) CEO overconfidence, age and prior experience are significantly negative related to leverage; 2) The higher the education, the higher the debts; 3) CEO tenure is significantly positive related to leverage; 4) The higher the overconfidence level in presence of their age, the more the debts; 5) Firm leverage is lower when CEO with higher educational degree has higher confidence level. The result of the paper can fill the gap in the literature on the managerial overconfidence and its relationship with leverage decision of Malaysian public listed companies.
format Article
author Irene, Wei Kiong Ting
Noor Azlinna, Azizan
Kweh, Qian Long
author_facet Irene, Wei Kiong Ting
Noor Azlinna, Azizan
Kweh, Qian Long
author_sort Irene, Wei Kiong Ting
title Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia
title_short Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia
title_full Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia
title_fullStr Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia
title_full_unstemmed Managerial Overconfidence and Leverage Decision. The Moderating Effect of Human Governance in Malaysia
title_sort managerial overconfidence and leverage decision. the moderating effect of human governance in malaysia
publisher Inderscience Enterprises Ltd.
publishDate 2016
url http://umpir.ump.edu.my/id/eprint/12009/
http://umpir.ump.edu.my/id/eprint/12009/
http://umpir.ump.edu.my/id/eprint/12009/
http://umpir.ump.edu.my/id/eprint/12009/1/Managerial%20Overconfidence%20and%20Leverage%20Decision.%20The%20Moderating%20Effect%20of%20Human%20Governance%20In%20Malaysia.pdf
first_indexed 2023-09-18T22:13:10Z
last_indexed 2023-09-18T22:13:10Z
_version_ 1777415162585677824

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