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CEO Overconfidence and Innovation
Galasso, Alberto - 2014
Are CEOs' attitudes and beliefs linked to their fims' innovative performance? This paper uses Malmendier and Tate's measure of overconfidence, based on CEO stock-option exercise, to study the relationship between a CEO's "revealed beliefs" about future performance and standard measures of...
Persistent link: https://www.econbiz.de/10013069805
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Managerial Overconfidence and Corporate Policies
Ben-David, Itzhak - 2008
Using a unique 10-year panel that includes more than 13,300 expected stock market return probability distributions, we find that executives are severely miscalibrated, producing distributions that are too narrow: realized market returns are within the executives' 80% confidence intervals only...
Persistent link: https://www.econbiz.de/10012773122
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Overconfidence and Early-Life Experiences : The Impact of Managerial Traits on Corporate Financial Policies
Malmendier, Ulrike - 2010
beyond traditional capital-structure determinants. First, managers who believe that their firm is undervalued view external … financing as overpriced, especially equity. Such overconfident managers use less external finance and, conditional on accessing …
Persistent link: https://www.econbiz.de/10013148858
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Smart and Illicit : Who Becomes an Entrepreneur and Do They Earn More?
Levine, Ross - 2014
We disaggregate the self-employed into incorporated and unincorporated to distinguish between "entrepreneurs" and other business owners. We show that the incorporated self-employed and their businesses engage in activities that demand comparatively strong nonroutine cognitive abilities, while...
Persistent link: https://www.econbiz.de/10013063299
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Which CEO Characteristics and Abilities Matter?
Kaplan, Steven N. - 2014
We study the characteristics and abilities of CEO candidates for companies involved in buyout (LBO) and venture capital (VC) transactions and relate them to hiring decisions, investment decisions, and company performance. Candidates are assessed on more than thirty individual abilities. The...
Persistent link: https://www.econbiz.de/10012751371
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The Value of Bosses
Lazear, Edward P. - 2014
How and by how much do supervisors enhance worker productivity? Using a company-based data set on the productivity of technology-based services workers, supervisor effects are estimated and found to be large. Replacing a boss who is in the lower 10% of boss quality with one who is in the upper...
Persistent link: https://www.econbiz.de/10013065643
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Who Lives in the C-Suite? Organizational Structure and the Division of Labor in Top Management
Guadalupe, Maria - 2014
number of managers reporting directly to the CEO doubled, the growth was driven primarily by functional managers rather than … general managers. Using panel data on senior management positions, we explore the relationship between changes in executive … corporate-wide coordination by functional managers in headquarters. We find that the number of functional managers closer to the …
Persistent link: https://www.econbiz.de/10013066601
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Do Star Performers Produce More Stars? Peer Effects and Learning in Elite Teams
Juster, Thomas - 2014
This study investigates the professional soccer industry to ask whether the talent of an individual's co-workers helps explain differences in the rate of human capital accumulation on the job. Data tracking national soccer team performance and the professional leagues their members play for are...
Persistent link: https://www.econbiz.de/10013047403
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Co-Worker Complemetarity and the Stability of Top Management Teams
Hayes, Rachel M.; Oyer, Paul; Schaefer, Scott - 2021
We investigate the hypothesis that complementarities across co-workers (which may arise from matching or investments in specific skills) affect the value of employment relationships between senior executives and firms. We analyze the changes in the composition of top management teams when a key...
Persistent link: https://www.econbiz.de/10013233465
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Centers of Gravity : The Effect of Stable Shared Leadership in Top Management Teams on Firm Growth and Industry Evolution
Agarwal, Rajshree - 2018
We study the processes of firm growth in the evolution of the Japanese cotton spinning industry during 1883-1914 by integrating strategy and historical approaches and utilizing rich quantitative firm-level data and detailed business histories. The resultant conceptual model highlights growth...
Persistent link: https://www.econbiz.de/10012916178