Family Matters: Exploring the Link Between Parental and Executive Financial Misconduct
Journal of Accounting Research, EarlyView.ABSTRACT Using a novel data set of misconduct records for Finnish CEOs and directors and their parents, we explore whether corporate executives’ financial misconduct is associated with similar behavior by their parents. Controlling for various other factors of executive financial misconduct, we find that executives are significantly more likely to ...
JENNI KALLUNKI +4 more
wiley +1 more source
OVERCONFIDENCE BIAS: EXPLANATION OF MARKET ANOMALIES FRENCH MARKET CASE [PDF]
In this study, we test whether the overconfidence bias explains several stylized market anomalous, including a short-term continuation (momentum), a long-term reversal in stock returns, high levels of trading volume and excessive volatility.
Abdelfettah BOURI +2 more
core
Downside risk similarity and M&As
Contemporary Accounting Research, EarlyView.Abstract Downside risks are ubiquitous and can profoundly impact firm operations and valuation. Failure to adequately assess and manage target firms' downside risks hinders acquirers' ability to integrate and manage these businesses. This article introduces a novel measure of firms' downside risk similarity (DRS) based on risk factor descriptions and ...
Lei Chen +3 more
wiley +1 more source
The Impact of Managerial Compensation on Overconfidence: Based on Empirical Evidence of the Shenzhen A-share Listed Companies [PDF]
, 2015 Shengqiang Liu
openalex +1 more source
Market Valuation of Risk Reporting: The Role of Business Model Disclosure
Abacus, EarlyView.Narrative risk reporting is essential to providing investors with information about company risks. Recent regulations require large companies to disclose narrative information about their main risks, opportunities, and business model (BM) value drivers.
Chiara Crovini +3 more
wiley +1 more source
Co‐opted Boards and the Obfuscation of Financial Reports
Abacus, EarlyView.This study investigates the relationship between board co‐option and the obfuscation of financial disclosures in a comprehensive sample of 9,620 10‐K filings by 1,076 US‐listed firms between 1996 and 2018. Our empirical results are consistent with our hypotheses that board co‐option partly explains the obfuscation of financial reports.
Abongeh A. Tunyi +3 more
wiley +1 more source
Overconfidence in financial markets and consumption over the life cycle [PDF]
Overconfidence is a widely documented phenomenon. Empirical evidence reveal two types of overconfidence in financial markets: investors both overestimate the average rate of return to their assets and underestimate uncertainty associated with the return.
Frank Caliendo, Kevin X. D. Huang
core
The effect of CEO adverse professional experience on management forecast pessimism
Accounting &Finance, Volume 65, Issue 1, Page 219-250, March 2025.Abstract We examine how CEOs' past experiences of corporate distress affect their subsequent forecast behaviour. We find that CEOs who experienced distress in a non‐CEO position at another firm issue more pessimistic management earnings forecasts after becoming CEO at their current firm.
Eunice S. Khoo +2 more
wiley +1 more source
Sensation Seeking, Overconfidence, and Trading Activity [PDF]
This study analyzes the role that two psychological attributes%u2014sensation seeking and overconfidence%u2014play in the tendency of investors to trade stocks.
Mark Grinblatt, Matti Keloharju
core
Reply to: Overconfidence in Bayesian analyses of galaxy rotation curves [PDF]
, 2020 Davi C. Rodrigues +3 more
openalex +1 more source