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| Author: | Malmendier, U. Tate, G. |
| Title: | Does overconfidence affect corporate investment? CEO overconfidence measures revisited |
| Journal: | European Financial Management
2005 : NOV, VOL. 11:5, p. 649-659 |
| Index terms: | Chief executive officers Decision making Financial risk Investment |
| Language: | eng |
| Abstract: | This article discusses the research area of Behavioural Corporate Finance by analysing distortions in corporate investments due to CEO overconfidence. Evidence of the relation between CEO's press portrayals and overconfident investment decisions is presented. The approach to measuring CEO overconfidence is based on the perceptions of outsiders, rather than on CEO's own point of view. |
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