Managerial overconfidence and corporate risk management [PDF]
Journal of Banking & Finance, 2012 We examine whether managerial overconfidence can help explain the observed discrepancies between the theory and practice of corporate risk management. We use a unique dataset of corporate derivatives positions that enables us to directly observe managerial reactions to their (speculative) gains and losses from market timing when they use derivatives ...
Tim R. Adam +2 more
openaire +6 more sources
Managerial Overconfidence and Corporate Policies [PDF]
, 2007 Miscalibration is a standard measure of overconfidence in both psychology and economics. Although it is often used in lab experiments, there is scarcity of evidence about its effects in practice. We test whether top corporate executives are miscalibrated, and whether their miscalibration impacts investment behavior.
Itzhak Ben-David +2 more
core +4 more sources
The Effect of Managerial Overconfidence on Abnormal Audit Fees with Respect to Stakeholder Equity Mechanisms [PDF]
Iranian Journal of Accounting, Auditing & Finance, 2023 The pricing of audit services has been a topic of interest to many audit researchers. In case auditors recognize managerial overconfidence, they are expected to incorporate this risk factor into their audit planning and compensate for additional audit ...
Esmaeil Akhlaghi Yazdinejad +1 more
doaj +1 more source
Managerial overconfidence and the buyback anomaly [PDF]
Journal of Empirical Finance, 2018 Abstract While positive, long-run abnormal returns following share repurchase announcements are substantially lower when CEOs are overconfident. This effect is particularly strong for (i) difficult to value firms, such as small, young, non-dividend paying, distressed, and having negative earnings firms, (ii) firms with poor past stock return ...
Andreou, P. C. +3 more
openaire +3 more sources
Examining managerial overconfidence behavioral explanation effect on cost stickiness: Comparison with economic and agency theory based factors [PDF]
بررسیهای حسابداری و حسابرسی, 2014 Managerial overconfidence behavioral factor causes cost asymmetric. Prior literature focuses on economic and agency explanations about cross sectional variation in the degree of cost stickiness.
Mehdi Heidari
doaj +1 more source
The Effect of Managerial Overconfidence on Firm Value: Evidence from the Johannesburg Stock Exchange [PDF]
Management and Economics Review, 2021 Managers of a company are responsible for enhancing shareholder wealth. However, decisions made by managers are not always rational, and such irrational decisions could have a direct impact on the value of a firm, and thus, the wealth of its shareholders.
Damien KUNJAL +7 more
doaj +1 more source
Biased interpretation of performance feedback: The role of ceo overconfidence [PDF]
, 2020 Research summary: This study examines how managerial biases in the form of overconfidence change the interpretation of performance feedback and, consequently, shape a firm's risk taking in response to it.
Keck, Steffen +2 more
core +1 more source
The effect of managerial overconfidence on the conservatism with respect to the role of external monitoring [PDF]
بررسیهای حسابداری و حسابرسی, 2015 This study investigates the effect of managerial overconfidence on both conditional and unconditional conservatism considering the role of external monitoring.
Ahmad Khodamipour +2 more
doaj +1 more source
Relationships between Managerial Overconfidence, Internal Financing and Investment Efficiency [PDF]
مجله دانش حسابداری, 2020 Objective: The purpose of this study is to examine the relationships between management overconfidence, internal financing, and investment efficiency in the companies listed in the Tehran Stock Exchange.
Vahid Taghizadeh Khanqah +1 more
doaj +1 more source
Impacts of Managerial Overconfidence and Agency Costs on Cash Holdings Within Blockchain Firms
IEEE Access, 2021 We study the effects of managerial overconfidence and agency costs on cash holdings of blockchain firms, where the overconfidence is defined as a cognitive bias that a manager will underestimate volatility in an uncertain environment.
Teng Niu, Xi Zhao
doaj +1 more source