Managerial overconfidence and corporate information disclosure
Borsa Istanbul ReviewBy extracting detailed birth information for managers of Chinese listed firms from 2011 to 2021, we developed a novel measure of overconfidence and applied it to the corporate information disclosure. Our findings demonstrated a close association between managerial overconfidence and both mandatory and voluntary disclosure behaviors exhibited by firms ...
Yang Hu
exaly +3 more sources
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
Managerial Overconfidence and Earning Forecast Errors [PDF]
پژوهشهای تجربی حسابداری, 2018 In accounting literature, earnings forecast accuracy has always been very important to financial statement users. There are many factors influencing earnings forecasts, including overconfidence that has an important role in earning forecasts accuracy ...
Sasan Merani, Mansour Taheri
doaj +1 more source
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
Managerial Overconfidence and Unqualified Audit Opinion [PDF]
پژوهشهای تجربی حسابداری, 2018 Overconfidence is one of the most important personal characteristics of managers. Theoretically, Manager’s riskiness is directly related to this characteristic.
Maryam Semyari, Bahman Banimahd
doaj +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
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 +4 more sources
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
Evaluation of Managerial Overconfidence, Cash Holding, and Investment Efficiency in Companies
Journal of Mathematics, 2021 Managers’ overconfidence leads to overestimating their ability to manage cash sources. Holding more cash may result in overinvestment in projects and investment inefficiency consequently.
Abdorreza Asadi +2 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