The Effect Of Financial statement comparability on corporate debt maturity with emphasis on the role of Managers’ Overconfidence

Comparability is also one of the key quality features of accounting information that facilitates the comparison of financial statements, comparability in the capital market and debt is very important for investors and creditors; Because investment and lending decisions are based on evaluating alternative opportunities or projects, without this comparable information, no optimal decision can be made. Due to the importance of this issue, in this study, the effect of comparability of financial statements on debt maturity structure with emphasis on the role of managers' overconfidence in the Tehran Stock Exchange in the period 2014 to 2020 using the information of 144 companies using the generalized least squares and generalized moment procedure regression has been investigated. The research method is applied, descriptive and with deductive-inductive approach. To measure the comparability of financial statements, the model of De Franco et al. (2011) and following the research of Ahmed and Duellman (2013) to measure managers' overconfidence, over-investment has been used. The results using both methods show that the comparability of financial statements reduces the debt maturity structure and managers' overconfidence leads to an increase in the debt maturity structure. Managers' overconfidence also increases the negative relationship between the comparability of financial statements and debt maturity structure and increases its severity.