The case for humble expectations: CEO humility and market performance
Abstract
Research Summary In this study, we investigate the effect of chief executive officer (CEO) humility on firm's market performance. We argue and find that firms with more humble CEOs will have better market performance but not because they actually perform better but, rather, because they benefit from an expectation discount in the market. Specifically, we show that, all else equal, financial analysts announce lower earnings per share expectations...
Paper Details
Title
The case for humble expectations: CEO humility and market performance
Published Date
Aug 23, 2019
Journal
Volume
40
Issue
12
Pages
1938 - 1964
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Notes
History