Results 111 to 120 of about 324 (159)
Some of the next articles are maybe not open access.
CEO Overconfidence and the Choice of Debt Issuance
SSRN Electronic Journal, 2020This paper examines how CEO overconfidence affects firms’ choice of debt issuance. We find that firms with overconfident CEOs tend to issue more private debt (i.e., bank loans and non-bank loans) than public bonds compared with firms with non-overconfident CEOs. The effect of CEO overconfidence is more pronounced during periods with high default spread,
Li Ge, Taher Jamil, Jin Yu
openaire +1 more source
CEO overconfidence and corporate tournaments
Managerial and Decision Economics, 2018Can CEO overconfidence help explain pay inequalities in top management teams? Tournament literature argues that pay gaps between different executive echelons increase competition among executives in the goal to replace the incumbent CEO and by so doing incentivize all top management team members to provide more effort. The increase in incentives can in
openaire +1 more source
CEO Overconfidence and CSR Engagement
Review of Pacific Basin Financial Markets and Policies, 2022This study explored the impact of CEO overconfidence on corporate social responsibility (CSR). We found that overconfident CEOs do not like to engage in CSR actives. Moreover, a firm with better CSR performance and overconfident CEOs could increase the probability of agency problems.
Roger C. Y. Chen +2 more
openaire +1 more source
CEO overconfidence, CEO dominance and corporate acquisitions
Journal of Economics and Business, 2007Abstract This study investigates the role of CEO overconfidence (hubris) and CEO dominance in the firm's decision to undertake an acquisition. We argue that it is important to capture not only the extent of overconfidence but also the ability of the CEO to impose his or her views on the firm's decisions.
Rayna Brown, Neal Sarma
openaire +1 more source
The Cultural Origins of CEO Overconfidence
SSRN Electronic Journal, 2021We explore the role of cultural heritage in explaining CEOs overconfidence and its impact on the propensity and performance of corporate acquisitions. CEOs are more prone to overconfidence if the culture in their ancestral country of origin is characterized by strong individualism, independence, long-term orientation, and inequality.
Jens Hagendorff +2 more
openaire +1 more source
CEO Overconfidence, REIT Investment Activity and Performance
Real Estate Economics, 2014This is the first article to study the effects of overconfidence on trading activity and performance in real estate. The article looks at Real Estate Investment Trusts (REITs), as their investments and divestments can be identified with precision. We look at the effect of CEO overconfidence on investment activity and separately investigate property ...
Eichholtz, P., Yönder, Erkan
openaire +3 more sources
SSRN Electronic Journal, 2012
This study empirically investigates bank risk taking from a behavioral perspective. More specifically, we analyze the impact of an overconfident CEO, defined as one who has systematically upward biased beliefs about the returns of his investment projects, on bank performance and risk taking.
openaire +1 more source
This study empirically investigates bank risk taking from a behavioral perspective. More specifically, we analyze the impact of an overconfident CEO, defined as one who has systematically upward biased beliefs about the returns of his investment projects, on bank performance and risk taking.
openaire +1 more source
CEO Overconfidence, CEO Compensation, and Earnings Manipulation
Journal of Management Accounting Research, 2014ABSTRACT In the wake of recent financial crises and corporate failures, chief executive officers (CEOs) are often blamed for their overconfidence leading to earnings manipulation and excessive risks. Why is it then that these overconfident CEOs obtain job offers in the first place?
openaire +2 more sources
Overconfident CEO Appointments
2015This chapter analyzes the determinants of overconfident CEO appointments and the effect these appointments on competitor stock performance during managerial turnover within the firm. It also analyzes the turnovers that take place in S&P 500 firms and find that an overconfident successor appointed to the firm pertains to a significant positive ...
openaire +1 more source
CEO overconfidence and CSR decoupling
Corporate Governance: An International Review, 2019AbstractResearch question/issueThis study examines whether there is decoupling between how firms communicate about corporate social responsibility (CSR) and what firms do in terms of CSR. We argue that this CSR decoupling is driven by the CEOs' cognitive biases.
Steve Sauerwald, Weichieh Su
openaire +2 more sources