Mihaela, HERCIU; Claudia, OGREAN - In: Studies in Business and Economics 9 (2014) 1, pp. 66-72
and irrational investors. Managerial biases focus on the illusion of optimism and overconfidence. Instead, irrational … managerial biases and irrational investors will affect corporate governance and furthermore will drive to company distress (even … investors can produce overreaction to something and under-reaction to other thing. By this paper we try to emphasize that both …