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values that constitute his legacy: honesty, resilience and trust. Joe Wilson's legacy was felt during the operations of the … positions. The board trusted their founder CEO's intention and capabilities and were enamored by his honesty and resilience. The …
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We examine overconfident CEO directors and find they attend more board meetings, are more likely to serve on the nominating or the compensation committee, have more independent directorships, and foster higher attendance rates on boards. Boards with overconfident directors are more likely to...
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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. …
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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...
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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 …
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