Antia, Murad; Pantzalis, Christos; Park, Jung Chul - In: Journal of Corporate Finance 16 (2010) 3, pp. 288-301
We investigate the effect of top managers' myopia on firms' market valuation. We devise a measure of expected CEO tenure as a proxy for the length of CEO decision horizon. After accounting for the endogenous nature of CEO horizon, our empirical tests show that shorter CEO horizon is associated...