Do Decision Makers' Debt-risk Attitudes Affect the Agency Costs of Debt?



Current Agriculture, Food & Resource Issues

G. Hailu, E. W. Goddard and S. R. Jeffrey

a larger and diversified sample of managers and directors? In order to explore the
implications of divergence in risk preference and attitude toward long-term borrowing,
simulation based on a multiple-criteria, multiple-DM model is proposed. A larger sample
size drawn from diverse co-operative types and structures would merit more confidence in
the representativeness of the results.

References

Ajzen, I. 1991. The theory of planned behaviour. Organizational Behaviour and Human
Decision Processes
50: 179-211.

Ajzen, I., and M. Fishbein. 1980. Understanding attitudes and predicting social behavior.
Englewood Cliffs, NJ: Prentice-Hall.

Barton, S. L., and P. J. Gordon. 1988. Corporate strategy and capital structure. Strategic
Management Journal
9(6): 623-632.

Bateman, D. I., J. R. Edwards, and C. LeVay. 1979. Problems of defining a cooperative as
an economic organization.
Oxford Agrarian Studies 8: 53-62.

Bentler, P. M., and G. Speckart. 1979. Models of attitude-behaviour relations.
Psychological Review 86: 452-464.

Berens, J., and C. J. Cuny. 1995. The capital structure puzzle revisited. The Review of
Financial Studies
8(4): 1185-1208.

Berger, I. E., and A. A. Mitchell. 1989. The effect of advertising on attitude accessibility,
attitude confidence, and the attitude-behavior relationship.
The Journal of Consumer
Research
16(3): 269-279.

Billett, M. T. 1996. Targeting capital structure: The relationship between risky debt and
the firm’s likelihood of being acquired.
The Journal of Finance 69(2): 173-192.

Brinberg, D., and V. Cummings. 1984. Purchasing generic prescription drugs: An analysis
using two behavioral intention models.
Advances in Consumer Research 11: 229-234.

Budd, R. J. 1986. Predicting cigarette use: The need to incorporate measures of salience in
the theory of reasoned action.
Journal of Applied Social Psychology 16(8): 663-685.

Caves, R. E., and B. C. Petersen. 1986. Cooperatives’ shares in farm industries:
Organizational and policy factors.
Agribusiness: An International Journal 2: 1-19.

Daykin, A. R., and P. G. Moffatt. 2002. Analyzing ordered responses: A review of the
ordered probit model.
Understanding Statistics 1(3): 157-166.

Demsetz, H., and K. Lehn. 1985. The structure of corporate ownership: Causes and
consequences.
Journal of Political Economy 93: 1155-1177.

Eisenhardt, K. M. 1989. Agency theory: An assessment and review. Academy of
Management Review
14(1): 57-74.

Enke, S. 1945. Consumer cooperatives and economic efficiency. American Economic
Review
35(1): 148-155.

Fama, E., and K. R. French. 1998. Taxes, financing decisions and firm value. The Journal
of Finance
LIII(3): 819-843.

Firth, M. 1995. The Impact of Institutional Stockholders and Managerial Interests on the
Capital Structure of Firms.
Managerial and Decision Economics 16: 167-175.

78



More intriguing information

1. Willingness-to-Pay for Energy Conservation and Free-Ridership on Subsidization – Evidence from Germany
2. Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?
3. The name is absent
4. Fiscal Rules, Fiscal Institutions, and Fiscal Performance
5. Motivations, Values and Emotions: Three Sides of the same Coin
6. Chebyshev polynomial approximation to approximate partial differential equations
7. The name is absent
8. The name is absent
9. Public-private sector pay differentials in a devolved Scotland
10. Delayed Manifestation of T ransurethral Syndrome as a Complication of T ransurethral Prostatic Resection