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CEO Turnover and Political Repositioning

Bonaparte, Yosef - 2017

This paper examines the relation between political regime change, a new president from a new party, and propensity for CEO turnover. Our key conjecture is that some companies, especially those that are politically sensitive, will politically reposition to adapt to the new political regime, and...

Persistent link: https://www.econbiz.de/10012953679

Revisiting Stock Option Exercise and CEO Overconfidence

Mace, Chris - 2019

A growing body of literature claims that CEOs are irrationally overconfident. I find evidence that this "overconfident" behavior is actually quite profitable, indicating that CEOs exhibit behavioral biases less often than previously thought. Firms with "overconfident" CEOs consistently earn...

Persistent link: https://www.econbiz.de/10012900655

CEO Overconfidence and Stock Price Crash Risk

Kim, Jeong-bon - 2020

risk. Overconfident managers overestimate the returns to their investment projects and misperceive negative net present …

Persistent link: https://www.econbiz.de/10012856930

Valuing Active Managers, Fees, and Fund Discounts

Ferguson, Robert - 2016

stakeholders - service providers, portfolio managers, and the owners. The analysis incorporates managers' expected performance and …

Persistent link: https://www.econbiz.de/10012998155

Long-Run Investment Management Fee Incentives and Discriminating between Talented and Untalented Managers

Ferguson, Robert - 2016

determines if the contract renewal structure and fee arrangements discriminate effectively among talented and untalented managers …

Persistent link: https://www.econbiz.de/10012998156

Managerial Discretion and Firm Fundamentals

Athanasakou, Vasiliki E. - 2016

We hypothesize and provide evidence that the economic consequences of managerial accounting discretion vary systematically with volatility in firm fundamentals. Unlike common approaches in the literature that identify managerial discretion as orthogonal to business volatility, we use a model...

Persistent link: https://www.econbiz.de/10013001437

Information Content of Directors’ Trading Around Acquisition

Shams, Syed - 2016

This paper investigates the patterns of directors' trades and returns around takeover announcements. We find that the pre-announcement net value (the difference between buy value and sell value) of directors' trading is positively related to acquirers' announcement period abnormal returns. This...

Persistent link: https://www.econbiz.de/10013005344

Director Networks and Informed Traders

Akbas, Ferhat - 2016

We provide evidence that sophisticated investors like short sellers, option traders, and financial institutions are more informed when trading stocks of companies with more connected board members. For firms with large director networks, the annualized return difference between the highest and...

Persistent link: https://www.econbiz.de/10013006832

Perceptions and Price : Evidence from CEO Presentations at IPO Roadshows

Blankespoor, Elizabeth - 2017

This paper examines the relation between cognitive perceptions of management and firm valuation. We develop a composite measure of investor perception using 30-second content-filtered video clips of initial public offering (IPO) roadshow presentations. We show that this measure, designed to...

Persistent link: https://www.econbiz.de/10012947928

On the Managerial Skills of Mutual Fund Managers (Manipulation-Proof Performance Measure)

Qian, Meifen - 2015

The on-going debate over whether fund managers have skills and whether those skills are short-lived is still … insights. First, fund managers in the higher ranked MPPM deciles persistently outperform lower ranked managers by posting … characteristic of the holdings indicates higher ranked fund managers would hold younger, smaller, growth, and particularly stocks …

Persistent link: https://www.econbiz.de/10013029187