In this video, Wael Rouatbi presents his article entitled «The role of multiple large shareholders in the choice of debt source», co-written with Sabri Boubaker and Walid Saffar, and published in Financial Management in 2017. Using a large sample of French listed companies, this study shows that companies with multiple controlling shareholders tend to resort to bank debt financing. The article also shows that this effect is greater in companies where agency problems between controlling shareholders and minority shareholders are more severe.