Time-varying managerial overconfidence and pecking order preference
This paper examines whether managerial overconfidence enhances or weakens pecking order preference. We construct time-varying managerial words-based (i.e. tone of Chairman’s Statement) and action-based (i.e. firm investment and directors’ trading) overconfidence measures. Both optimistic tone and in...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Default Article |
| Published: |
2017
|
| Subjects: | |
| Online Access: | https://hdl.handle.net/2134/25375 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|