Notice of RetractionManagers´ overconfidence, financing decision-making and company performance

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

The drawback of cognitive bias is manifested by managers because of their overconfidence. This makes negative impact on financing decision-making and company performance. This paper analyses relationships between overconfidence, financing decision-making and company performance. It also studies the overconfidence impact of managers on financing decision, and the impact of financing decision on company performance from two aspects, i.e. financing decision of capital structure and debt maturity structure. Our analysis shows that the cognitive bias indirectly affect the company performance through company financing decision behavior.