Results 81 to 90 of about 9,441 (234)
From Regression to Reasoning: Predicting M&A Announcement Returns With Large Language Models
European Financial Management, EarlyView.ABSTRACT This study investigates whether large language models (LLMs) can predict short‐term market reactions to M&A announcements. We prompt OpenAI's latest reasoning models (o3, GPT‐5, and GPT‐5.1) to forecast whether the combined market value of acquirer and target will increase or decrease, drawing on deal‐, firm‐, and macroeconomic data for large ...
Maximilian Schreiter +2 more
wiley +1 more source
Financial Statement Information and Equity Value: The Role of Real Options Characteristics
Financial Management, EarlyView.ABSTRACT This paper examines whether firm‐specific real options characteristics are equity value‐relevant beyond valuation estimates anchored in financial statements. Using extensive historical data for the United Kingdom, we assess and compare the forecast accuracy and explanatory power for stock prices of equity valuation models based on residual ...
Mingyu (Chandler) Chen +2 more
wiley +1 more source
The effect of CEO overconfidence on bank risk taking [PDF]
Recent studies document that some CEOs are overconfident. In this note, we examine the effect of CEO overconfidence on bank risk taking. We measure CEO overconfidence using press data, and bank risk taking using the standard deviation of stock returns ...
Jijun Niu
core
Behavioral Approaches to Corporate Law [PDF]
, 2012 This chapter reviews the challenges associated with developing a plausible theory of why psychological heuristics and biases might persist in high-stakes business settings.
Langevoort, Donald C
core +1 more source
Signaling Vision: Knowing When to Quit
International Economic Review, EarlyView.ABSTRACT We study a signaling game where agents signal their type by choosing when to quit pursuing an uncertain project. High types observe news about project quality and quit when bad news arrives. Low types who do not observe any news may mimic high types by quitting continuously over a phase of time.
Junichiro Ishida, Wing Suen
wiley +1 more source
CEO EMOTIONAL BIAS AND CAPITAL STRUCTURE CHOICE. BAYESIAN NETWORK METHOD [PDF]
Business Excellence and Management, 2012 This research examines the determinants of firms’ capital structure introducing a behavioral perspective that has received little attention in corporate finance literature.
Mohamed Ali AZOUZI , Anis JARBOUI
doaj
Journal of Business Finance &Accounting, EarlyView.ABSTRACT We examine the role of intrinsic motivations—psychologically based, non‐economic factors—in earnings benchmark beating by focusing on owner‐managed firms that are largely free from external pressures from shareholders, analysts, and the media.
Jeppe Christoffersen +2 more
wiley +1 more source
Is Underconfidence Favored over Overconfidence? An Experiment on the Perception of a Biased Self-Assessment [PDF]
, 2013 This paper reports findings of a laboratory experiment, which explores how elfassessment regarding the own relative performance is perceived by others. In particular, I investigate whether overconfident subjects or underconfident subjects are considered ...
Thoma, Carmen
core +2 more sources
Managerial Overoptimism and Discretionary Disclosure
Journal of Business Finance &Accounting, EarlyView.ABSTRACT We examine the effect of managerial overoptimism on discretionary disclosure of subjective information, such as earnings forecasts. The market applies a discount upon disclosure to capture the possibility that the revealed subjective expectation is too optimistic.
Nikolaj Niebuhr Lambertsen +1 more
wiley +1 more source
Are Overconfident CEOs Better Innovators? [PDF]
Using options- and press-based proxies for CEO overconfidence (Malmendier and Tate 2005a, 2005b, 2008), we find that over the 1993-2003 period, firms with overconfident CEOs have greater return volatility, invest more in innovation, obtain more patents ...
Hirshleifer, David +2 more
core +1 more source