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Behavioural aspects of corporate financial decisions

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Pages: 
54-59
UDC Code: 
658.14/.17
Authors: 
Zadorozhnaya A Candidate of Economic Sciences  (anna_zador@mail.ru)

The theoretical approaches to formation of structure of the capital of the company including behavioural aspects, in particular, of the theory of tracking of the market, information cascades and influence of personal qualities of management on structure of the capital are considered. The analysis of results of empirical researches both on developed, and in emerging markets has shown that any of the submitted theories can't become the only conceptual basis for formation of financial policy of the real companies. At the same time, as subjective character is inherent in administrative decisions sometimes, the behavioural tools can become one of a determinant influencing structure of the capital of the company.

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