CEO confidence and stock returns
Volume: 12, Issue: 1, Pages: 89 - 110
Published: Apr 1, 2016
Abstract
Consistent with the theoretical predictions of Goel and Thakor (2008), we find that overconfident CEOs create significant value for the firm through superior stock return performance and take more risk, compared to their non-overconfident counterparts. We also differentiate between innovative and non-innovative industries and find for each subsample that overconfident CEOs create firm value. We find these results even when we control for founder...
Paper Details
Title
CEO confidence and stock returns
Published Date
Apr 1, 2016
Volume
12
Issue
1
Pages
89 - 110
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