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Managerial overconfidence and self-reported success
Niebuhr, Nikolaj Kirkeby - 2020
Persistent link: https://www.econbiz.de/10012320397
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Managerial overconfidence and dividend policy in Vietnamese enterprises
Dat Dinh Nguyen; To Tha Hien; Nguyen Duy Van; Huyen … - In: Cogent economics & finance 9 (2021) 1, pp. 1-12
managers. In particular, the element of overconfidence of the CEO contributes to the decision-making process for the dividend … author also made some conclusions and recommendations for managers and investors. …
Persistent link: https://www.econbiz.de/10013183769
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Corporate dividend policy, managerial overconfidence, myopia, and investor irrationality : a complex concoction
AlGhazali, Abdullah; Fairchild, Richard; Guney, Yilmaz - In: The European journal of finance 30 (2024) 15, pp. 1817-1847
Persistent link: https://www.econbiz.de/10014636620
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Anxiety, overconfidence, and excessive risk taking
Eisenbach, Thomas M.; Schmalz, Martin C. - 2015
We provide a preference-based rationale for endogenous overconfidence. Horizon-dependent risk aversion, combined with a possibility to forget, can generate overconfidence and excessive risk taking in equilibrium. An "anxiety prone" agent, who is more risk-averse to imminent than to distant...
Persistent link: https://www.econbiz.de/10010482950
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Persistent overconfidence and biased memory : evidence from managers
Huffman, David; Raymond, Collin; Shvets, Julia - 2023
studies managers who participate repeatedly in a high-powered tournament incentive system, learning relative performance each … time. Using reduced form and structural methods we find that: (i) managers make overconfident predictions about future … performance; (ii) managers have overly-positive memories of past performance; (iii) the two phenomena are linked at an individual …
Persistent link: https://www.econbiz.de/10014311540
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Overconfidence and managers' responsibility hoarding
Nieken, Petra; Sadrieh, Abdolkarim; Zhou, Nannan - 2011
introduce a model, in which managers and agents exert effort in a joint production, after the manager decides on the allocation …
Persistent link: https://www.econbiz.de/10009571367
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CEO Overconfidence, Moral Hazard, and Investment
Balakrishnan, Ramji - 2020
Using an agency theory framework, we examine the effect of managerial overconfidence on the interaction between planning and control problems. We consider a typical setting in which a manager makes an investment decision involving project selection and a production decision to implement the...
Persistent link: https://www.econbiz.de/10012824838
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Corporate Risk : CEO Overconfidence and Incentive Compensation
Aabo, Tom; Hvistendahl, Nicholai Theodor; Kring, Jacob - 2021
Purpose – The purpose of this study is to investigate the association between corporate risk and the interaction between CEO incentive compensation and CEO overconfidence.Design/methodology/approach – This empirical study performs random and fixed effects regression analysis. It uses...
Persistent link: https://www.econbiz.de/10013251577
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Do firms gain from managerial overconfidence? : the role of severance pay
Graziano, Clara; Luporini, Annalisa - 2022
We analyze the effects of optimism and overconfidence when the manager's compensation package includes severance pay and the CEO has bargaining power. We find that optimism does not affect incentive pay but increases severance pay with a negative effect on profit. Overconfidence, on the...
Persistent link: https://www.econbiz.de/10013255972
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CFO Overconfidence and Shareholder Activism
Schreiber, Nicolas; Schiereck, Dirk; Schweizer, Denis - 2022
A key objective of shareholder activists is to persuade a firm’s management to change its strategy. CFOs play an important role in negotiations, nonetheless activism research mainly focuses on CEOs. We examine the relationship between CFO overconfidence and the likelihood to get targeted by...
Persistent link: https://www.econbiz.de/10013295508