Title :
CEO overconfidence
Author :
Yilmaz, Neslihan
Author_Institution :
Bogazici University, United States
Abstract :
Research on behavioral corporate finance uses different methods to gauge managerial irrationality. In general, these measures are specific to the data used. Using executive option grant data, this paper proposes a more general and continuous proxy, and uses this proxy to examine the factors that lead to the appointment of overconfident CEOs. I find that certain CEO and governance characteristics have impact on the probability of having overconfident incoming CEOs.
Keywords :
behavioural sciences; finance; probability; CEO overconfidence; behavioral corporate finance; chief executive officer; continuous proxy; executive option grant data; managerial irrationality; probability; Agriculture; Cultural differences; Data engineering; Economic indicators; Finance; Humans; Performance analysis; Production; Region 5; Stability; CEO overconfidence; Executive options;
Conference_Titel :
Financial Theory and Engineering (ICFTE), 2010 International Conference on
Conference_Location :
Dubai
Print_ISBN :
978-1-4244-7757-9
Electronic_ISBN :
978-1-4244-7759-3
DOI :
10.1109/ICFTE.2010.5499429
