Behavioral Corporate Finance studies mainly concerned with irrationality in sense of overconfidence and optimism especially about the firms which are already take place in stock exchange. In this paper, I examined impacts of the fixed opinion or a common belief of the statement “I never borrow money” which should be considered as a judgemental bias under the concept of anchoring in relatively small firms. By using artificial dataset, I explicitly show the impact of this bias in borrowing that effect profitability of the company, shareholders wealth and costly time loses
Dergi Türü : Uluslararası
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