The effect of CEO overconfidence on bank risk taking

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. Controlling for a number of CEO- and bank-specific variables, we find that banks managed by overconfident CEOs take more risk.

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Year of publication:	2010
Authors:	Niu, Jijun
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 30.2010, 4, p. 3288-3299
Publisher:	AccessEcon
Subject:	CEO \| overconfidence \| bank \| risk taking

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Extent:	application/pdf
Type of publication:	Article
Classification:	G2 - Financial Institutions and Services
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008752476